Australia's monthly trade surplus has smashed its previous record to hit $8.04 billion, putting a current account surplus within reach for the first time since 1975.
China's insatiable appetite for mining commodities underpinned the trade surplus in June, with strong iron ore prices and export volumes helping beat the earlier $6.2 billion surplus record set in May.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
