LATEST AUSTRALIAN BUSINESS NEWS
Australia's 2005/2006 Federal Budget will be released by the Treasurer, Peter Costello next Tuesday, 10 May. With an expectation of a healthy surplus, the pre-budget news is being dampened by the latest trade figures.
The official numbers released yesterday show that Australia produced its second largest trade deficit on record for the month of March. The deficit was $2.67 billion - a blow out of nearly half a billion dollars from what was expected. The blow out was not helped by the increase in the cost of oil imports (up 44%) and a decline in rural exports (down 8%). Rural production has been severely hit by the current drought. Imports rose 2% for the month and exports declined 1% - leading to many media commenting that it was a month of 2 steps forward and 1 step back.
For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.
David
mailto:david.taylor@agarcarlyon.com
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