AUSTRALIAN exports to China surged to record highs in March as the Chinese bought more iron for its steel industry and lowered barriers to thermal coal as diplomatic relations thawed, reports Reuters.
Data shows exports of Australian goods to China hit A$19 billion (US$12.71 billion) in March, a rise of 31 per cent from a year earlier and surpassing the previous peak of mid-2021.
The jump helped lift Australia's total trade surplus to its second-highest on record at A$15.3 billion, a boost to mining profits and tax receipts. Export volumes of iron ore lumps and iron ore fines to China jumped 24.3 per cent and 17.7 per cent respectively from a month earlier, data from Australian Bureau of Statistics showed.
Shipments of thermal coal to China surged 125 per cent by volume in March from February, offsetting a drop in exports to Japan.
SeaNews Turkey
Data shows exports of Australian goods to China hit A$19 billion (US$12.71 billion) in March, a rise of 31 per cent from a year earlier and surpassing the previous peak of mid-2021.
The jump helped lift Australia's total trade surplus to its second-highest on record at A$15.3 billion, a boost to mining profits and tax receipts. Export volumes of iron ore lumps and iron ore fines to China jumped 24.3 per cent and 17.7 per cent respectively from a month earlier, data from Australian Bureau of Statistics showed.
Shipments of thermal coal to China surged 125 per cent by volume in March from February, offsetting a drop in exports to Japan.
SeaNews Turkey