Trade deficit hits new record as coal overtakes iron ore

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) today released trade data for the month of January, with Australia’s trade deficit improving to $2,937 million from $3,524 million in December. The result beat analyst’s expectations of trade deficit to $3,200 million.

It was the 22nd straight month of trade deficits in seasonally adjusted terms:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.