Following a leaders meeting late last year, China and
Australia agreed last month to resolve a World Trade
Organization dispute over Chinese barley tariffs within three
months.
However, reviving trade is proving more challenging than
stopping it in the first place, Reuters reported.
($1 = 1.4952 Australian dollars)
(Reporting by Stella Qiu and Wayne Cole; Editing by Simon
Cameron-Moore)
SYDNEY, May 4 (Reuters) - Australia's exports to China
surged to record highs in March as the Asian giant sucked in
more iron for its steel industry and lowered barriers to thermal
coal shipments amid thawing diplomatic relations.
Data out on Thursday showed exports of Australian goods
to China hit A$19 billion ($12.71 billion) in March, a rise of
31% from a year earlier and pipping the previous peak from
mid-2021.
The jump helped lift Australia's total trade surplus to its
second-highest on record at A$15.3 billion, a boon to mining
profits and tax receipts.
Export volumes of iron ore lumps and iron ore fines to China
jumped 24.3% and 17.7% respectively from a month earlier, data
from Australian Bureau of Statistics showed.
Shipments of thermal coal to China surged 125% by volume in
March from February, offsetting a drop in exports to Japan.
Beijing effectively ended an unofficial ban on Australian
coal in January, allowing customs clearance for the first time
since 2020 when it launched trade curbs on a series of
Australian products as ties froze in the early days of COVID.
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