Higher export commodity prices led to a narrowing of the current account deficit in the March 2017 quarter for the third consecutive quarter, according to the latest figures from the Australian Bureau of Statistics (ABS). The seasonally adjusted current account deficit fell by A$403 million (11 per cent) to A$3.108 billion in the March 2017 quarter. On a seasonally adjusted rate, the balance surplus for goods and services hit a record high of A$92.42 in March 2017. Exports of goods and services increased by A$3,852 million (5 per cent) and imports of goods and services increased by A$1,723 million (2 per cent). The main revenue deficit widened by A$2,712 million (29 per cent).
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