BALANCE OF MERCHANDISE TRADE
In December 2009, the balance of international merchandise trade (i.e. the value of exports less the value of imports) for Victoria was a deficit of $2,821m. The value of the state's merchandise exports was $1,653m, while merchandise imports totalled $4,474m. Compared with December 2008, Victoria's trade deficit in December 2009 was $474m (14.4%) lower, with a decline in the value of exports (down $256m, 13.4%) being more than offset by a larger fall in the value of imports (down $730m, or 14.0%). Victoria recorded an average monthly trade deficit of $2,752m for the 12 months ending December 2009.
At the national level, the value of imports and exports (including re-exports) were lower by 12.3% and 21.7%, respectively, in December 2009 compared with December 2008.
Balance of international merchandise trade(a)
In 2008-09, Victoria's trade deficit was $36,082m, an increase of $562m (1.6%) over the previous financial year. The state's exports decreased by $164m (0.8%) while imports increased by $399m (0.7%).
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