Australia records highest trade deficit in 18 months
Australia records highest trade deficit in 18 months
17:41, November 05, 2009 
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The Australian Bureau of Statistics (ABS) on Thursday revealed Australia had posted its largest monthly trade deficit in 18 months in September, fuelled by a widening gap between imports and exports as the economy recovers.
However, the balance of goods and services deficit of 1.849 billion Australian dollars (1.67 billion U.S. dollars), seasonally adjusted, was less than the deficit of 2.15 billion Australian dollars (1.95 billion U.S. dollars) that economists had expected.
The result was the largest deficit since March 2008, when the trade deficit was 2.967 billion Australian dollars (2.69 billion U.S. dollars).
In September, both exports and imports were up 5 percent in adjusted terms.
It was the biggest percentage increase in exports in 11 months.
Economists said export growth was better than expected in several categories and led to the lower than anticipated deficit.
Source: Xinhua
However, the balance of goods and services deficit of 1.849 billion Australian dollars (1.67 billion U.S. dollars), seasonally adjusted, was less than the deficit of 2.15 billion Australian dollars (1.95 billion U.S. dollars) that economists had expected.
The result was the largest deficit since March 2008, when the trade deficit was 2.967 billion Australian dollars (2.69 billion U.S. dollars).
In September, both exports and imports were up 5 percent in adjusted terms.
It was the biggest percentage increase in exports in 11 months.
Economists said export growth was better than expected in several categories and led to the lower than anticipated deficit.
Source: Xinhua
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