SURGING coal, iron ore and LNG exports have made a major contribution to Australia’s trade surplus for October, according to minister for resources and northern Australia Matt Canavan.

“Australian Bureau of Statistics figures show our trade surplus for the month of October was $2.3bn, supported by coal exports of more than $6bn, iron ore exports of $5.4bn and LNG exports of $4.5bn,” Minister Canavan said.

“Our resources are making a vital contribution to the Australian economy, with record values for exports. For the 12 months to October 2018, coal exports totalled $64.6bn – Australia’s single most valuable export commodity – iron ore $61.6bn and LNG $38.8bn.”

“Coal exports in October were up 9.3% compared with the previous month and 29.8% compared with October 2017; iron ore was up 0.9% compared with the previous month and 15.8% compared with October 2017; and LNG was up 7.9% compared with the previous month and more than 100% compared with October 2017.”

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