BALANCE OF TRADE
In August 2007, the value of Victoria's exports was $1,711m. This was 4.3% lower than in August 2006. Over the same period, the value of imports rose by 8.3% and Victoria's overall net trade position declined by $447m or 16.7%. On average, Victoria recorded a monthly trade deficit of $2,627.8m in merchandise trade for the year ended in August 2007.
At the national level, exports (including re-exports) were 2.8% higher in August 2007 than in August 2006, whilst imports rose by 11.2%.
NET TRADE PERFORMANCE, Exports minus Imports
BALANCE OF INTERNATIONAL MERCHANDISE TRADE |
|  |
| | Victoria(a) | Australia | |
| |
|
| |
| | Exports | Imports | Excess of exports | Exports | Imports | Excess of exports | |
| | $m | $m | $m | $m | $m | $m | |
| |
| 2004-05 | 18 513 | 45 140 | -26 627 | 126 823 | 149 469 | -22 646 | |
| 2005-06 | 18 929 | 49 010 | -30 081 | 152 492 | 167 503 | -15 011 | |
| 2006-07 | 20 047 | 51 325 | -31 278 | 168 129 | 180 806 | -12 677 | |
| 2006 | | | | | | | |
| June | 1 604 | 4 223 | -2 619 | 14 664 | 15 078 | -414 | |
| July | 1 607 | 4 096 | -2 489 | 14 313 | 14 192 | 120 | |
| August | 1 787 | 4 461 | -2 674 | 14 302 | 15 216 | -914 | |
| September | 1 787 | 4 448 | -2 661 | 14 000 | 15 044 | -1 044 | |
| October | 1 757 | 4 378 | -2 621 | 14 646 | 16 341 | -1 695 | |
| November | 1 850 | 4 566 | -2 716 | 13 896 | 15 694 | -1 798 | |
| December | r1 690 | 4 110 | r-2 420 | r14 697 | r14 644 | r54 | |
| 2007 | | | | | | | |
| January | r1 254 | r4 058 | r-2 805 | r12 625 | r14 541 | r-1 917 | |
| February | r1 513 | 3 919 | r-2 407 | r13 253 | r14 093 | r-841 | |
| March | r1 751 | r4 274 | r-2 523 | r13 924 | r15 372 | r-1 448 | |
| April | r1 683 | r4 085 | r-2 401 | r13 858 | r14 618 | r-760 | |
| May | r1 803 | 4 388 | r-2 585 | 14 731 | 15 636 | -906 | |
| June | 1 566 | 4 542 | -2 976 | 13 886 | 15 414 | -1 528 | |
| July | 1 785 | 4 083 | -2 298 | 14 464 | 15 247 | -783 | |
| August | 1 711 | 4 832 | -3 121 | 14 697 | 16 924 | -2 226 | |
| |
| r revised |
| (a) Victorian imports are those imported goods released from Customs control within Victoria. Victorian imports are those whose final stage of production or manufacture occurred within Victoria. |
| Source: International Trade in Goods and Services, Australia (cat. no. 5368.0); Merchandise Exports and Merchandise Imports Collection; ABS data available on request. |
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