Official figures furnished on Tuesday by the Australian Bureau of Statistics (ABS) showed that the country posted a trade surplus for two consecutive months going into May and many economists are in agreement that Australia is all prepped up to enter a series of surplus performance in the months to come.

ABS figures showed that the country's balance of goods and services was a surplus of a seasonally adjusted $1.654 billion in May, coming from the upward revised figures of $1.123 billion in the previous month, while the median market forecast was set to a surplus of $500 million in the same month.

CommSec chief economist Craig James attributed May's trade surplus and April's strong upward revision to solid demands for the country's commodities as he assured that "this is something we're going to have to get used to for the next couple of months and the contribution of oil and iron ore are there for all to see."

The new figures showed that exports saw a rise of six percent in May while imports increased by up to four percent with coal comprising about 17.7 percent of Australia's exports in the same month while iron ore and other minerals all summed up to 18.6 percent of export products.

ABS said that all major commodities contributed single-digit export movements but it noted that in spite of the strong performances seen in the export sector, the country's currency and equity market appeared unmoved as the Australian dollar remained fixed at 84.38 cents when the data was published at 1130 AEST.

Mr James observed that while the numbers pointed to encouraging developments, the markets appeared to be oblivious of the positive condition, stressing that "nowadays such good news doesn't move the markets that much."