... GDP rise compared to our trading partners. This growth of the Australian economy has led to a higher level of imports as Australia has needed more goods to satisfy want. Export Growth has experienced smaller growth rates or no growth rates as Australia's trading partners do not need more products as they are not experiencing growth. This change in the import and export levels affect the Current Account Deficit, increased imports and stable exports creates a larger Goods Balance deficit. In the years 01-02 the Goods Balance was only in deficit -$757million but rose in 02-03 to -$18,236million. The trends in the levels of the Goods Balance are cyclical in nature so while the Goods Balance is getting into a larger deficit currently this should change in time and will even out as exports increase. The Goods Balance swings between deficits and small surpluses and is often close to 0. ...

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