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Agricultural export sales bounce back

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Agricultural export sales have bounced back in the 2010 - 11 financial year after years of drought and other weather disasters. The growth underpinned Australia’s record exports of goods and services in 2010 - 2011 to just under $300 billion. Export sales rose by 17.3 per cent from the previous financial year. The rise was accompanied by a good performance in the minerals sector. The increase in export sales demonstrates the sector making a comeback in international agricultural trade. The agricultural sector has been affected by various weather disasters over the last few years, including droughts, floods and bushfires. An increase in export sales was also experienced by other Australian business sectors in the last financial year. Cereal grain and wheat exports achieved record growth, with sales up by 50 percent from the previous year. Cotton export sales increased by 80 percent and wool sales were up by a third. Other sectors that experienced a growth in export sales included textile fibre, dairy products and manufactured products. Export sales figures were recently released in the Department of Foreign Affairs and Trade 2010-11 edition of Trade in Primary and Manufactured Products, Australia. The document provides an account of Australia’s international trade in goods and services.

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