Business
Australia’s booming trade surplus a ray of light amid recession gloom – The Guardian
Strong exports expected to boost country’s growth as record economic contraction set to be confirmed
Australias trade position has boomed during the Covid-19 pandemic but it will not stop the country posting its first recession in 29 years.
The nations current account trade surplus ballooned to $17.7bn in the June quarter, compared with $9bn in the previous three months, Australian Bureau of Statistics data released on Tuesday shows.
Net exports are expected to add 1 percentage point to economic growth in the quarter.
The June quarter national accounts are due for release on Wednesday.
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