For the first time in almost 3 years Australia’s trade balance has returned to surplus with the Bureau of Statistics figures showing a trade surplus of $1.24 billion for November.
That is up from a $1.1 billion trade deficit in October and marks the first monthly surplus since March 2014.
Paul Dales, Capital Economics' chief economist said the surplus has been driven by the recent rapid rise in prices for iron ore and coal.
"When prices for exports rise, the value of those exports rise and that improves the trade position," he explained.
"So it really is just a sign that higher commodity prices are starting to filter through into higher national incomes."