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Trade deficit blows out as exports drop May 4, 2007 - 1:34PM The trade deficit blew out in March as resource infrastructure bottlenecks cut the country's export earnings. The balance on goods and services widened to a seasonally adjusted deficit of $1.622 billion in March, from a downwardly revised $728 million in February, figures from the Australian Bureau of Statistics (ABS) showed. Exports dropped four per cent in adjusted terms, while imports rose one per cent. UBS economist George Tharenou said the large fall in exports was the biggest contributor to the trade deficit blow-out. "The data reveals a worse export performance heavily impacted by likely temporary resource infrastructure bottlenecks and delays, after a moderate improvement over the prior two months," he said. "The decrease in exports largely reflected lower metals ores, gold and other mineral fuels, with cereals also down again. "Offsetting these falls to some extent were solid rises in machinery and other manufactures." Mr Tharenou said...

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