Australia’s trade deficit widens

Sydney, May 8: Australia’s trade deficit widened in March, data released Tuesday by the Australian Bureau of Statistics (ABS) showed.

The balance on goods and services was a deficit of 1,587 million AU dollars ($1,610 million) in March, a rise of 833 million AU dollars on the deficit in February, the ABS said.

Economists had forecast a deficit of 1.2 billion AU dollars for March.

During March, exports of goods and services rose 2.0 percent while imports of goods and services increased 5.0 percent, the ABS said.