Value of Australia’s exports grows

Strong growth in the export of goods and services has resulted in an A$49.1 billion ($39.1 billion) turnaround in the value of trade exports in 2016-17, the nation’s trade minister announced. In an official media release, Trade Minister Steven Ciobo said Australia’s export market experienced an A$12.4 billion surplus for 2016-17, up from a deficit of A$36.7 billion in 2015-16. “The result reflects the Turnbull government’s commitment to free trade, which continues to underpin Australia’s enviable economic prosperity and high standard of living,” Ciobo said.