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Export prices relieve account deficit

Export prices relieve account deficit article image
Figures from the March quarter show that Australia's current account deficit has narrowed thanks to a boost in exports, according to the Australian Bureau of Statistics (ABS). The March quarter showed a deficit of $16.5 billion, down from $18.4 billion in the quarter to December 2009. A rise in the terms of trade helped erase some of the deficit, with prices earned from our exports rising 4.2 percent while import prices remained steady on a stable Australian dollar. Economists expect the trade balance to improve later this year due to higher export contract prices for commodities such as coal and iron ore. Some predict a surplus by the September quarter.

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