While commenting on the current economic environment, Trade Minister Craig Emerson said: “Australia’s bulk commodity exports are continuing to recover from the effects of natural disasters on production and port facilities at the start of this year”. In addition, the minister has marked good management and policies, established during the last quarter century, as a possible reason to accelerate the Australian trade success.

Further, Dr. Emerson has also pinpointed doubtful global economic conditions and strong Australian dollar as powerful factors that have challenged Australian exporters.

At present, export figures were observed to have a surge, especially during the past 12 month, where shipments were found up 35%, 27% and 23% for China, Korea and Japan, respectively. Consequently, Australian Bureau of Statistics has suggested that exports have tumbled around 1% in July as compared to June, and touched $26.1 billion.

On the other hand, imports were also found to take a lesser position through a down fall of 1% while reaching $24.3 billion, having a strong influence from the 3% hike in the import of capital goods including machinery as well as telecommunications equipment.

Simultaneously, manufactured exports were observed to gain a hike of 6% in July whereas rural exports have slipped 1% to $2.8 billion.