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Australia's account deficit narrows in December quarter: report

Xinhua, March 3, 2015 Adjust font size:

Australia's current account deficit narrowed more than 20 percent in the December quarter, according to official figures released on Tuesday.

The Australian Bureau of Statistics said the nation's current account deficit for the quarter narrowed 21 percent to 9.588 billion Australian dollars (7.44 billion U.S. dollars) following a deficit of 12.130 billion Australian dollars in the September quarter.

The current account measures flows of income between Australia and the rest of the world and import of goods and services.

Australia's total foreign debt rose to 924.8 billion Australian dollars in the December quarter from 886.8 billion Australian dollars in the previous quarter. Endi