Australia registered a $367 million trade surplus in the first quarter of 2013, indicating that the country is entering the third phase of the resources boom. The figure means exports are shifting to mining exports from mining investments as imports of construction machinery dipped 44 per cent.

However, in the same quarter, exports of iron ore and other metals surged 11 per cent to $2.2 billion while imports of various capital goods plummeted 26 per cent o $1.1 billion.

These developments caused a drastic improvement in trade figures as Australia move from s $5.2 billion trade deficit in the previous quarter to a $367 million surplus, according to data from the Australian Bureau of Statistics.

The boost in mining exports to $14.85 billion happened even if most mineral prices registered drops. Iron ore prices, for instance, tumbled down 20 per cent in the March quarter.

In the next five years, the Bureau of Resource and Energy forecasts volume of resource exports will further grow 28 per cent.

The cyclone-free summer helped boost mining output as there were no weather disturbances to disrupt mining operations.

At the start of the mining boom, imports of specialised mining machinery were the third-largest import category after cars and petrol.

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