Australia has recorded its first current account surplus since 1975, posting a $5.9 billion surplus driven by booming exports of iron ore and coal.
Another record trade surplus of $19.8 billion turned the current account from a deficit of $2.9 billion in the March quarter to a surplus of $5.8 billion, a turnaround of $6.9 billion.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
