AusRAIL, Market Sectors

Queensland flood adds to trade deficit blow-out

<p>The recent Queensland floods had a dramatic flow on effect on Australia’s trade deficit, disrupting the export of coal and causing an estimated $2.72bn gap, Bloomberg reported yesterday (Thursday, March 6).</p> <p>The Australian Bureau of Statistics (ABS) told Bloomberg natural events, like floods and cyclones, were working against exports and the rise in imports caused by the strength of the Australian dollar was also worrying. </p> <p>BHP Billiton said in January that coal-mining in northeastern Australia would be disrupted for months because of heavy rain.</p> <p>The ABS said the deficit would further curb Australia’s economy.</p> <br />