Well thank you Grant for prompting me to do some research into the trade deficit and other things. I normally don't need to do so on HC as this lot usually accepts whatever or simply refutes everything as coming from a lefty poojabber.
In particular it happens that the entire trade deficit is due to NSW and Victoria. All the other states and territories run a substantial trade surplus with the rest of the world. NSW runs a $40b deficit and Victoria a $30b deficit. Which means that the rest together run a $50b surplus.
