Mumbai, Sept. 2 -- Australia recorded its ninth straight current account deficit in the second quarter amid elevated global trade uncertainty and falling commodity prices.
The Australian Bureau of Statistics said Tuesday that the current account balance rose by 0.4 billion Australian dollars in the quarter to a deficit of A$13.7 billion, equivalent to US$8.98 billion.
Australia's terms of trade fell 1.1% from the first quarter and was 2.4% lower compared with the same period a year earlier. Commodity price falls, particularly for iron ore and coal, were behind the deterioration, the ABS said.
Imports of goods and services rose 0.8% in the second quarter, led by a 3.4% rise in services imports, the data showed.
Travel services rose 5%, w...