Frigate forces Aust. deficit

Press, 15 August 1984, Page 28

Frigate forces Aust. deficit

NZPA-AAP Canberra Australia’s current account deficit (all amounts in Australian dollars) widened to $945 million last month from $652 million in June, the Commonwealth Statistician said.

This compared with a $5ll million deficit in July last year. In July the balance of trade deficit was $239 million, turning round from an $BO million surplus in June and a 1)61 million surplus in July last year. The statistician said the trade deficit reflected in part the importation of the Royal Australian Navy frigate H.M.A.S. Darwin, valued at $2BO million. Excluding this, the trade account would show a $4l million surplus for the month. Imports increased to $2,569 million last month from $2,273 million in June, after being $1,853 million in July last year. Exports totalled $2,330 million after being $2,353

million in June and $1,914 million in July last year. Net invisibles totalled $706 million in July compared with $732 million in June and $572 million in July last year. Net apparent capital inflow increased to $1,014 million in July from $3lO million in June and compared with $627 million in July last year. Private capital inflow totalled $641 million in the latest month, compared with $419 million in June and $664 million in July last year.

There was $373 million in Government capital inflow in July after a $lO9 million outflow in June and compared with a $36 million outflow a year before. The balance of payments as measured by net official monetary movements was $69 million in surplus last month after a $432 million deficit in June and compared with a $ll6 million surplus in July last year.