Sur­plus big­ger, de­spite drought

Mercury (Hobart) - - BUSINESS -

AUS­TRALIA’S cur­rent ac­count sur­plus widened to a larger than ex­pected $7.855 bil­lion in the Septem­ber quar­ter de­spite a drought-re­lated de­cline in ex­port of ru­ral goods.

Ex­ports of ru­ral goods fell by 3 per cent in vol­ume and value, with a 16 per cent fall in wool vol­umes and a 2 per cent fall in ce­re­als vol­umes. But an in­crease in ex­ports of non­mon­e­tary gold helped lift the balance from a re­vised $4.669 bil­lion in the June quar­ter, which fea­tured Aus­tralia’s first sur­plus since June 1975.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.