AUSTRALIA’S EXPORTS

Press, Volume CVI, Issue 31080, 8 June 1966, Page 11

AUSTRALIA’S EXPORTS

Big Rise Last Month (N.Z. Press Assn. —Copyright) SYDNEY, June 7. Australia’s broadening export base, including newlydeveloped mining ventures, appears to have contributed to a big rise in exports last month, the “Sydney Morning Herald” said today. In spite of the drought, exports were the third-highest monthly total on record, and were responsible for the first monthly trading surplus after 21 successive deficits.

They were worth 256,100.000 dollars, compared with 207.800.000 dollars in April and 225.800.000 dollars the previous May. Detailed figures are not yet available, but one of the main factors in the increase is believed to be rising mineral exports, the “Herald” said in a Canberra dispatch. Preliminary reports reaching the Government suggest that coal, rutile and bauxite exports from Queensland and iron-ore shipments from new fields in Western Australia might have contributed to the rise.

Other factors were an early atart to the meat-killing season in Queensland, and heavy seasonal fruit shipments from Victoria and Tasmania.

The figures are also influenced by the fact that there werr 22 working days in the month—more than usual.

Only twice have last month’s figures been exceeded: in November, 1963, when exports were worth 258,200.000 dollars, and in the freak month of April, 1951, when soaring wool prices, influenced by the Korean war, lifted them to 272.200,000 dollars. Preliminary figures which the Commonwealth Statistician, Mr K. M. Archer, issued yesterday, show that May imports were worth 222.900,000 dollars. This compared with 225,700,000 dollars in April. 267,000,000 dollars the previous May, and an average of 246,000.000 dollars for the first 11 months of this financial year.

The trading surplus of 33.200,000 dollars for May reduced the cumulative deficit for the 11 months to 261,700,000 dollars, compared with the deficit one year ago of 233,100,000 dollars.