Australia has recorded a trade surplus for the 2011/12 financial year.
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Australian exports reached a new record of 313 billion dollars in 2011, the first time exports have risen over 300 billion dollars in any 12 month period.
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With the global economy in turmoil, a new report by Coface examines what’s happening in China and how that might affect Australian exporters.
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Despite the high Australian dollar, exports have picked up in Tasmania thanks to continued demand from China and an improved US economy.
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Australian Marine Export Group (AIMEX) and Australia Unlimited have announced a new partnership aimed to develop and promote the Australian Marine Export industry on an international scale.
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Exports from the DeGrussa mining project are expected to begin next quarter, miner Sandfire Resources says.
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HSBC have predicted that China will take over the US as the world’s leading trading nation by 2016.
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Minister for Agriculture, Fisheries and Forestry, Senator Joe Ludwig, has announced that the agricultural industry would benefit from increased governmental support including assistance in cutting red tape for agricultural exports.
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November 2011 saw another trade surplus recorded for Australia, making it the ninth consecutive monthly trade surplus in 2011 and a welcome report at the start of the new year.
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Agricultural export sales have bounced back in the 2010 – 11 financial year after years of drought and other weather disasters.
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