Australia sees doubling of IT trade deficit

Australia's IT and telecommunications trade deficit has almost doubled over the last three years, according to preliminary results released this week by the Australian Bureau of Statistics (ABS). Results estimate the current deficit to be around A$7 billion (US$5.5 billioin) dollars, compared to A$3.8 billion in 1992-93. Importation of computer hardware products was the main culprit, racking up A$5.5 billion, or just over half of the total IT&T imports. Telecommunications hardware added A$1.9 billion to this figure.

Australia's IT and telecommunications trade deficit has almost doubled over the last three years, according to preliminary results released this week by the Australian Bureau of Statistics (ABS).

Results estimate the current deficit to be around A$7 billion (US$5.5 billion) dollars, compared to A$3.8 billion in 1992-93. Importation of computer hardware products was the main culprit, racking up A$5.5 billion, or just over half of the total IT&T imports. Telecommunications hardware added A$1.9 billion to this figure.

The bureau also found that of total of $31 billion revenue generated from domestic production, imports way exceeded exports. Over 1995/96, imports were valued at $10.7 billion, overshadowing $3.6 billion for exports.

The survey also showed that the industry had approximately doubled in size since the previous survey of 1992-93, largely attributable to strong performance from the computer wholesaling and computer services areas.

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