BALANCE OF MERCHANDISE TRADE
Statistics are collected for imports and exports. In this chapter, imports are presented in terms of Customs Value, while exports are presented in terms of Free on Board Value. In September 2010, the balance of international merchandise trade (i.e. the value of exports less the value of imports) for Victoria was a deficit of $3,634m. The value of the state's merchandise exports were $1,492m, while merchandise imports totalled $5,125m. Compared with September 2009, Victoria's trade deficit in September 2010 was $493m (15.7%) higher, with a rise in the value of exports (up $33m, or 2.3%) being offset by a larger rise in the value of imports (up $525m, or 11.4%). Victoria recorded an average monthly trade deficit of $2,999m for the 12 months ending September 2010.
At the national level, the value of imports was 4.1% higher in September 2010 compared with September 2009, while the value of exports (including re-exports) was 21.7% higher over the same period.
Balance of international merchandise trade(a)
In 2009-10, Victoria's trade deficit was $34,694m, a decrease of $1,388m (3.8%) over the previous financial year. The state's exports and imports decreased by $1,951m (-9.6%) and $3,339m (-5.9%) respectively.
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