CANBERRA: Port Hedland handled a record amount of cargo in November, recording a monthly throughput of 44.5 million tonnes — up 17 per cent on 2015. New figures from the Pilbara Ports Authority show total iron ore exports from the Pilbara for the month hit 43.9Mt, also an increase of 17 per cent compared with November 2015. The Port of Dampier delivered a total monthly throughput of 15.9Mt, slightly up on the previous year.
Yesterday’s statistics came as Australia recorded its first trade surplus in nearly three years in November, with predictions it would stay in the black into 2017. The surplus of international good and services was $1.2 billion in the month, much better than the market forecast of a $500 million deficit.
The Australian Bureau of Statistics said exports surged 8 per cent in November, while imports were flat. The main driver of the leap in exports were coal and iron ore exports, surging 26 per cent and 11 per cent respectively. CommSec chief economist Craig James said a “double whammy” of stronger commodity prices and the low Australian dollar that was behind the swing to a surplus.
