Aust, deficit in line for year

Press, 19 July 1988, Page 22

Aust, deficit in line for year

NZPA-AAP Canberra Australia recorded a sAustBB2 million current account deficit in June, making a sAustll.sl billion deficit for fiscal 1987-88 ended June 30, the Bureau of Statistics said. The annual deficit compares with a sAustl3.l9 billion deficit for 1986-87 and is in line

with the Federal Government’s Budget forecast of a sAustll.s billion deficit. The June ngonth deficit was slightly above market expectations of a $6OO to $BOO million monthly deficit and compares with a $1.30 billion deficit in May, revised from $l.lB billion, and an $BO4 million

deficit in June, 1987. The bureau said the merchandise trade balance was $ll3 million in surplus in June, making a $4l million deficit for fiscal 1987-88 compared with a $1.77 billion deficit for 1986-87. The latest month trade deficit compares with a $248 million deficit in May, revised

from $l4B million and a $179 million surplus for June, 1987. FOB imports totalled $3.38 billion in June, versus $3.66 billion in May and $3.25 billion a year earlier. FOB exports totalled $3.49 billion in June, versus $3.41 billion in May and $3.43 billion a year earlier.