Fall in exports sees deficit widen
December 9, 2009
According to the Australian Bureau of Statistics ("ABS") Australia’s trade deficit increased from $1.85 billion in September to a revised $2.38 billion in October. The rise was largely attributed to a drop in resource exports.
The ABS reported a 3.5% fall in exports to $19.5 billion, which included a 12% drop in coal shipments and a 7% slide in the metal ores and minerals component.
Imports weakened 0.8% to $21.8 billion, with the largest fall seen in the fuel shipments, which was down 10%.
The ABS said the trend estimate of the balance on goods and services was a deficit of $1.94 billion in October 2009, an increase of $122 million on a revised deficit in September 2009.
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