BBC News Online: Business

Export boost for Australian government

Howard's slogan: Keep Australia in safe hands

The news comes at a good time for the conservative government of Prime Minister John Howard, which faces the electorate in less that two weeks.

Mr Howard has campaigned heavily on his government's economic management of Australia.

Official figures for September's trade in goods and services showed a surplus of A$545m (£189.8m, $275.6m), well above analyst forecasts of A$150m.

But analysts have warned the good times may be short-lived as the global economy slows further.

Commodities boost

A 2% rise in the export of coal and oil boosted the figures, despite sliding world demand, but tourism fell heavily after the 11 September attacks on the US.

Imports declined by 2% as domestic demand weakened and the Australian dollar lost value against the US dollar.

September was the eighth consecutive monthly surplus, marking the longest run since Australia posted 23 in a row from January 1972 to November 1973, according to the Bureau of Statistics.

But the export markets for Australian goods and services is not expected to hold up for much longer.

"All of Australia's major export markets are now contracting, so significant weakness in exports over the next six months appears likely," said ABN Amro chief economist Kieran Davies.