FED: Aust goods/services deficit narrows as imports plunge

AAP General News (Australia)
02-02-1999
FED: Aust goods/services deficit narrows as imports plunge

Australia's goods and services trade deficit narrowed in December as imports plunged by
nearly $500 million.

The Australian Bureau of Statistics says the deficit came in at $508 million, seasonally
adjusted, in December from a revised deficit of $1.021 billion in November.

Analysts had expected a deficit of about $800 million, although they predicted the fall in
imports.

The bureau says imports fell by $467 million or four per cent to be worth $10.010 billion
-- mainly due to lower imports of gold, fuels and lubricants.

Meanwhile, exports rose by only $47 million to be worth $9.502 billion, from $9.455 billion
in November.

AAP RTV ear/mfh/cmm/jn

KEYWORD: TRADE (CANBERRA)

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