Australia's trade surplus further expanded in December, adding up $366 million in the month to reach $1.709 billion, creating a wide margin that according to the Australian Bureau of Statistics (ABS) was mostly delivered by commodity shipments.

The country has been achieving surpluses over the past 10 months that economists attributed to ongoing mining boom.

Last month, however, posted a moderate climb of only two percent to $27.792 billion, seasonally adjusted, figures that analysts said could become the trend in the immediate months ahead.

That means export will continue to grow but on a crawling mode, at best, according to HSBC chief economist Paul Bloxham.

"With commodity prices having peaked in September, growth in export values is expected to be more modest from here," Bloxham told the Australian Associated Press (AAP).

Experts noted, however, that the December export earnings represented the highest in the last quarter, with the best seen in August 2011 at $28.049 billion.

Export gains were mostly due to high demands for iron ore and thermal coal, volume orders of which surged by 24 percent and 25 percent respectively in the month, according to the ABS' latest International Trade in Goods and Services figures issued on Thursday.

Also, petrol and vehicle shipments jumped by 22 percent and 13 percent respectively but dwindling arrivals of tourists, which retreated by one percent in the month, erased some of the gains.

On the other hand, importation increased by a mere one percent to $26.082 billion, the ABS said.

Despite its moderating export level, Australia has maintained its status as a global leader in providing important minerals that many countries require for their industries, specifically in the Asia-Pacific region.

Amidst the financial crisis in Europe and the perceived slowdown in Asia, Australian exports have been steady over the past few months, according to JP Morgan economist Ben Jarman.

"Australia's getting that income out of Asia despite the moderation in growth ... and concern about China's economy slowing down pretty sharply and that it would be shown in the Aussie trade numbers," Jarman said.