WA records nation's highest trade surplus at $28b
You can purchase access to this special report or subscribe to Business News.
Subscribe to Business News.
Western Australia has recorded the biggest trade surplus of any Australian state over the year to April 2006 - a surplus of $28 billion - latest Australian Bureau of Statistics figures show.
Treasurer Eric Ripper today said WA's trade surplus surged over the 12-month period, up from $23.7billon a year earlier.
Nationally, the trade deficit was $15.2billiion, with NSW recording a trade deficit of $37.3billion and Victoria a trade deficit of $29.5billion.
Mr Ripper said the figures highlighted the continued strength of WA's V8 economy.
"In annual average terms, the nominal value of WA exports rose by 23.2 per cent over the year to April 2006, to a record $45.8billion," the Treasurer said.
"In fact, WA now accounts for a massive 31 per cent of total national exports."
THE FULL MEDIA RELEAESE APPEARS BELOW.
WA trade surplus is the highest in the nation.
Western Australia has recorded the biggest trade surplus of any Australian State over the year to April 2006, latest ABS figures show.
Treasurer Eric Ripper today said WA's trade surplus surged to $28billion during the 12-month period, up from $23.7billon a year earlier.
Nationally, the trade deficit was $15.2billiion, with NSW recording a trade deficit of $37.3billion and Victoria a trade deficit of $29.5billion.
Mr Ripper said the figures highlighted the continued strength of WA's V8 economy.
"In annual average terms, the nominal value of WA exports rose by 23.2 per cent over the year to April 2006, to a record $45.8billion," the Treasurer said.
"In fact, WA now accounts for a massive 31 per cent of total national exports."
But Mr Ripper warned against complacency.
"The challenge for governments and business is to make wise investment decisions now to ensure the good times last," he said.
"Our recent State Budget was about building on the boom by making decisions for tomorrow, not just for today.
"Initiatives to drive further economic growth included tax cuts worth $1.2billion over five years, a massive $18.1billion building program over four years and new measures to diversify our economy."