Aust. Trading Results

Press, Volume CVI, Issue 31079, 7 June 1966, Page 17

Aust. Trading Results

(New Zealand Press Association)

CANBERRA, June 6. An unexpected increase in exports gave Australia its best trading result last month for three years. The items responsible have not yet been officially identified but the trading profit last month was 33.2 million dollars.

This compares with a deficit of 41.2 million dollars for May last year.

The Commonwealth Statistician (Mr K. M. Archer) in reporting this today said it was the first surplus for 10 months.

The only previous surplus was a favourable balance last July of 1.1 million dollars. In spite of this profit, Australia will end its trading j year this month with a deficit of some magnitude. Last financial year it was 269.6 million dollars in the red. With only this month to go in the current financial

year, the deficit is already 261.7 million dollars. Exports last month earned Australia 256.1 m, while imports cost 222.9 million dollars.

In May last year exports brought in 225.8 million dollars or 31m less than last month.

The trade figures took a severe beating last March when 38.9 million dollars had to be found for the guidedmissile destroyer H.M.A.S. Perth.