Australian trade surplus buoyed by strong mineral demand
Tuesday, Oct 04, 2011 Filed Under :Planet Talk Card News
News brought to you by Planet Talk - cheap international calls from home, mobile or any phone.
Australia has witnessed a surge in its trade surplus, as exports in August were driven by strong demand for coal and other minerals.
The news which is sure to encourage cheap international calls between Australia and friends and family members residing in the UK, comes from the Australia Statistical Bureau and reflects positively on national mining industries.
Shipments made from Australia grew by eight per cent between July and August, while imports rose by three per cent, meaning that there was a trade surplus of £1.9 billion.
Analysts have claimed that these positive figures are due to a high demand for minerals from Asian nations, which are helping to sustain growth despite global slowdown concerns.
Economies such as India and China were found to be experiencing the greatest demand for Australian imported minerals as they undergo rapid urbanisation.
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