The International Trade Statistics (ITS) are a record high for the year of March, according to International Trade Minister Scott Morrison.
The figures show that in the first quarter of this year, the total value of international trade was $2.05 trillion, which was an increase of $0.11 trillion from the previous quarter.
The increase is a big boost for Australia’s economy and is a significant boost to the nation’s trade and investment growth.
International Trade Minister, Scott Morrison, says he has been working hard to get the figures right.
“This is one of the most important indicators that Australians use to make their choices about where to invest and where to live,” Mr Morrison said.
“There are no excuses for the data showing that this is a very strong year for international trade.”
In our first quarter, we recorded an increase in exports of more than $5 billion, the biggest in two years, and this is another significant achievement in our efforts to encourage growth in Australia’s international trade.
“The total value for Australia of international commerce rose to $2,842.4 billion, or $1,000.2 trillion, in the year to March 31.
International Trade Statistics is compiled by the International Trade Council.
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