In Business

Exports Down By $266 Million

Imports Up By $1,572 Million

Increase In Current Account Deficit

Australian Bureau Of Statistics

Victor P Taffa

Latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit rose $2,728 M (19%) to $17,459 M in the December Quarter 2009. Exports of goods and services decreased $266 M and imports of goods and services increased by $1,572 M.

In seasonally adjusted chain volume terms, the goods and services deficit increased $3,790 M resulting in a deficit of $7,750 M. This is expected to detract 1.3 percentage points from growth in the December Quarter 2009 volume measure of Gross Domestic Product.

Australia’s net International Investment Position (IIP) rose $12.4 B to a net liability position of $768.6 B in the December Quarter 2009. Australia’s net foreign debt liability increased $14.2 B and Australia’s net foreign equity liability decreased $1.8 B.

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