According to the ABS, the decrease in the deficit was due to a rise in goods and services credits, mainly within the non-rural and other goods sector. This outweighed the rise in goods and services debits, mainly within the capital and consumption goods sector.

Goods and services credits rose A$816m (4%) to A$19,176m. Non-rural and other goods rose A$657m (5%), with rural goods rising A$122m (6%). Services credits rose A$36m (1%).

The ABS attributes the rise in non-rural and other goods was driven by metal ores and minerals, rising A$471m (16%) along with coal, coke and briquettes, rising A$341m (23%).

Goods and services debits rose A$291m (1%) to A$21,912m. Capital goods rose A$156m (4%), while intermediate and other goods fell A$37. Consumption goods rose A$126m (2%), services debits fell A$46m (1%).

The ABS reports that the rise in capital goods was driven by machinery and industrial equipment, which rose A$232 (17%) and the rise in consumption goods was driven by non-industrial transport, mainly passenger motor vehicles, rising A$137m (9%).

In the eight months ending March 2008, A$1,647m worth of goods and services were imported from Canada, A$1,211m worth exported. By comparison, A$18,095m worth were imported from the United States. Australia continues to import most goods and services from APEC nations, continuing the current trend. The same is true for Australian exports.

Among the provinces, Western Australia again continues to be the highest exporter with significant mining and natural resources, however that province remains 3rd for imports behind New South Wales and Victoria respectively.

Reported by Tim Stackpool. ( This email address is being protected from spam bots, you need Javascript enabled to view it )