According to figures released by the Australian Bureau of Statistics, Australia's trade surplus reached a monthly level of A$2.1 billion (US$2.26 billion) in June 2011.
In the statement released by the Australian Department of Foreign Affairs and Trade, the surplus was reported to be A$647 million (US$696 million) lower than in May. Thanks to the June surplus, the surplus for the fiscal year 2010-11 (ended June 30) increased to a record A$22.4 billion (US$24.1 billion), compared to A$3.5 billion (US$3.7 billion) deficit in FY 2009-10.
Exports for the fiscal year ended June 2011 jumped 17 percent year on year to A$298.2 billion (US$321.03 billion), resulting from strong increases in coal and iron ore exports. Imports for the period rose seven percent year on year to A$275.8 billion (US$296.9 billion).
Metal ores and mineral exports rose 48 percent year on year to A$79.2 billion (US$85.2 billion) and exports of coal, coke and briquettes rose 19 percent to A$43.9 billion (US$47.2 billion). Services exports, on the other hand, fell two percent over 2010-11 to A$51.5 billion (US$55.4 billion).
The ministry also noted that goods exports to China rose 39 percent over 2010-11, accounting for 26 percent of Australian goods exports. Australia's second largest goods export market Japan accounted for 19 percent of Australia's exports and was up 26 percent despite the disruptions caused by the earthquake in March.