Australian Trade Deficit Widens

Australia’s trade deficit widened in December as imports of goods including gasoline surged the most in almost two years, adding to evidence of an economic rebound.

The shortfall swelled to A$2.25 billion ($2 billion) from a revised A$1.73 billion in November, the Bureau of Statistics said in Sydney. 

Exports rose 4 percent to A$19.8 billion in December. Farm shipments gained 7 percent and coal jumped 10 percent. Exports were aided by a 5-percent rise in non-rural goods, including a 10-percent increase in coal exports.

Imports rose 6 percent to A$22 billion, the biggest monthly gain since May 2008, today’s report showed. Oil and gasoline imports jumped 26 percent. Gold imports surged 51 percent.

Australian Trade Deficit Widens, Bloomberg
2/2/2010 10:52:30 PM