For the second quarter in succession, higher export commodity prices contributed to a narrowing of the current account deficit in the December quarter 2016, according to latest figures from the Australian Bureau of Statistics (ABS). The seasonally adjusted current account deficit fell $6,348 million (62 per cent) to $3,853 million in the December quarter 2016. In seasonally adjusted terms, the balance on goods and services surplus in the December quarter 2016 is the highest on record at $4,667m. Exports of goods and services rose $9,668 million (12 per cent) and imports of goods and services rose $1,462 million (2 ... (full story)