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Australia June Trade Deficit Shrinks

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Australia posted a seasonally adjusted goods and services trade deficit of A$441 million in June.

The Australian Bureau of Statistics reported Wednesday that the deficit was smaller than the deficit of A$737 million recorded in May.

The figure represented a deficit contraction of A$296 million or 40 percent on the revised figure for May.

The deficit was wider than the A$371 deficit recorded in June of 2008.

The Bureau said exports for the month increased 2.0 percent while imports were flat.

The trend estimate, which further smoothes the seasonally adjusted data, showed a deficit of A$288 million, a reversal from the revised surplus of A$430 million recorded in May 2009.

(Market News Provided by RTTNews)

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