Australia has recorded a record trade surplus, signalling a major boost for the economy.
The record surplus reached $2.95 billion in October, $1.7 billion larger than the previous month’s surplus.
Australia’s trade performance has been exceptional in four of the past five months according to Minister for Trade, Simon Crean, with trade playing a critical role in sustaining the economy during such turbulent financial times.
“It is critical that we continue to improve our export performance to sustain our economy beyond the resources boom,” said Crean.
Tonight in Melbourne, Prime Minister Kevin Rudd will be guest of honour at the Australian Export Awards and announce the Prime Minister’s Australian Exporter of the Year.