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November 05, 2009 10:54 AM
Australia Posts Largest Trade Deficit In 18 Months
MELBOURNE, Nov 5 (Bernama) -- Australia posted its largest monthly international trade deficit in 18 months, widening to just over A$1.8 billion in September, official data showed.
The trade balance of goods and services grew to a seasonally-adjusted A$1.85 billion deficit in September, after a revised A$1.65 billion shortfall in August, the Australian Bureau of Statistics said Thursday.
It was the fifth straight month of deficits.
The growing trade gap came as both imports and exports grew by five per cent in September from August.
Exports rose by A$882 million in the month, including a 64 percent jump in non-monetary gold exports and a nine per cent rise in coal exports.
Imports rose by A$1.08 billion, including a 25 percent increase in oil products, while consumption and capital goods increased by two per cent.
--BERNAMA
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