Imports up 12pc in July
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Updated
Official figures show an increase in oil imports was the main factor driving up overall imports last month.
Total merchandise imports rose 12 per cent in July to $19.7 billion.
Imports of fuels and lubricants rose by nearly one-third.
CommSec's chief economist Craig James says Australian was forced to import more oil because of local refinery closures.
"There's high oil demand, high prices and that weighs on our balance of payments and it means that probably we saw a small trade deficit in the month of July, rather than the trade surplus that we saw the month before," he said.
