June quarter trade deficit widens

The ABS preliminary estimates of the Australia’s June quarter trade deficit and terms of trade were published indicating a deterioration in Australia’s export earnings and prices received. The trade deficit widened to $9.6bn, more than double the March quarter figure of $4.7bn. Exports were down nearly 6% as prices and volumes slid, while imports volumes were steady. The terms of trade were down an estimated 4.3% and while export volumes fell they were still 7% higher than the June 2014 figure, while import volumes were close to those in June 2014.