Australia soldiers on through trade war

February 15, 2019

Australia's farmers, miners and other exporters have delivered a record $22.2 billion trade surplus in 2018, the highest ever recorded in a calendar year, according to the Australian Bureau of Statistics.

Conservative Party senate candidate Rikki Lambert said last June - amid the panic over the US-China Trade war (full video below) - that Australia could do well out of the two superpowers making each other's goods more expensive by slapping tariffs on each other.

The Conservative Party's call for calm came amid the ABC warning of a potential global trade 'implosion' at the time that could hurt Australian miners.

Australia’s two-way trade in goods and services also hit a record high of $854 billion in 2018 as the results show that Australia delivered 12 successive monthly trade surpluses in 2018 (the first such 12-month streak since 1972), and 22 in the last 24 months. .

Increased resource exports including metals, ores and minerals ($94.9 billion) and Coal, coke and briquettes ($66.7 billion), along with rural goods such as meat ($13.6 billion) and cereals ($7.3 billion) helped contribute to Australia’s strong 2018 result.

Meanwhile, the Conservative Party is eyeing off a potential new trade deal with a 'Brexit' United Kingdom and the European Union to expand the number of markets to which our farmers, miners and other exporters can send their goods. There is also concern about whether China's historic first anti-dumping case against Australia, attacking our barley exports to China, demonstrates the need to thoroughly review ChAFTA (the China-Australia Free Trade Agreement) to ensure it is operating in the Australian national interest.

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