Exports increase, but trade deficit also grows
Exports increased by $882 million for the month of September with a 64 percent rise in non-monetary gold exports and a nine percent rise in coal exports, but imports increased by $1.08 billion, widening Australia’s trade deficit.
Figures released by the Australian Bureau of Statistics revealed that the balance of trade widened from $1.65 billion in August to $1.85 billion in September, seasonally adjusted, which was the largest trade deficit recorded in 18 months and the fifth consecutive deficit.
Despite the widening gap between exports and imports, the deficit was not as large as predicted, with analysts initially tipping a rise to $2.15 billion.
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