Figures from the Australian Bureau of Statistics show the seasonally adjusted deficit on goods and services increased by $534 million from September.
While the deficit was expected to rise, the increase in the gap between the value of Australia’s exports and imports was a surprise.
The biggest falls were reported in the value of coal, coke and briquette exports, which dropped 12% or $344 million month-on-month.
Metallurgical high-rank coal export values fell $345 million (24%), with volumes down 12% and prices down 14%
Iron ore exports fell $193 million (8%), with volumes up 1% but prices down 9%.
Overall, metal ores and mineral exports (excluding coal) were down $267 million, a 7% fall, while the value of non-monetary gold exports fell by 17% or $235 million.
The latest ABS figures also showed that, in seasonally adjusted current price terms, the current account deficit rose $3.05 billion (23%) to $16.2 billion in the September quarter of 2009.
The value of Australia’s exports in that period decreased by $2.5 billion, while the value of imports increased by $1.8 billion.