Australia's Trade Numbers Tank In September

Getty/Mike Hewitt

Australian Bureau of Statistics trade numbers for September show a worse than expected sharp deterioration.

The balance on goods and services, seasonally adjusted, was a deficit of $2.261 billion in September 2014, an increase of $1.248 billion or 123% on the deficit in August.

The market has been expecting a deficit of about $1.8 billion.

The ABS said goods and services credits rose $269 million (1%) to $26.457 billion.

Non-monetary gold rose $585 million (60%), rural goods rose $74 million (2%) and net exports of goods under merchanting rose $2 million (25%).

Non-rural goods fell $443 million (3%). Services credits rose $51m (1%).

In seasonally adjusted terms, goods and services debits rose $1.517 billion (6%) to $28.718 billion.

Intermediate and other merchandise goods rose $974 million (11%), consumption goods rose $186 million (3%), capital goods rose $178 million(3%) and non-monetary gold rose $135 million (59%). Services debits rose $43 million (1%).

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