Meat and wool help drive record exports

AN increase in meat and wool exports in 2017/18 has helped Australia's total goods and services exports reach a record $401 billion for the first time.

Meat and wool help drive record exports Meat and wool help drive record exports Meat and wool help drive record exports Meat and wool help drive record exports Meat and wool help drive record exports

Meat and wool have helped increase the value of Australian exports. Picture Mark Saunders

International Trade in Goods and Services data for 2017-18, released on last week by the Australian Bureau of Statistics, confirms the value of Australian exports reached a new high of $401 billion in 2017-18, the first time annual exports have exceeded $400 billion. Australia's annual trade surplus was $6.3 billion over the same period.

These record exports were fuelled by increased resources exports including LNG, coal and iron ore, while meat and wool exports also rose. Machinery, other manufactures and gold also increased over the past year.

Importantly, the data reveals Australian exports to China, our largest trading partner, grew by 11 per cent in 2017-18, exceeding the $100 billion mark for the first time to reach $105 billion, reflecting the benefit...

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