Dec 3, 2015
Australia’s deficit widen worse than expectation on mining export decline
Data released by the Australian Bureau of Statistics today showed Australia's trade balance in the red with a deficit of $3.3 billion in October, worse than the $2.4 billion deficit estimated by economists. It also stayed way above the $2.4 billion deficit recorded in September. The primary factor that led to the widening of trade balance was a sharp decline in mining export volumes. Exports rose three per cent in the month, while imports were flat.
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