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Australia's ICT trade deficit spirals to $14.4bn

Australia's ICT trade deficit spirals to $14.4bn

Australia's information and communications technology (ICT) trade deficit has blown out to A$14.4 billion, according to the Australian Computer Society (ACS).

A report by the ACS found Australia's ICT trade deficit accounted for 65 per cent of the 2001/02 financial year total.

Opposition information technology spokeswoman Kate Lundy described it as "appalling" and said it demonstrated the need to build the local ICT industry.

The report, 2002 ICT Trade Update, said Australia's ICT exports and imports had both fallen over the last financial year. It said that during financial year 2001-02, Australia's ICT exports fell by $1.7 billion, or 24 per cent. ICT imports were down by almost $1.9 billion, or 8.6 per cent.

The ACS attributed the drop to falling investment but IT Minister Richard Alston said the report was misleading and one-dimensional.

"It is a view that totally disregards the enormous contribution made by the growing Australian ICT sector to overall economic and productivity improvement," he said in a statement, adding that the ACS analysis was little more than a superficial and simplistic stunt.

"All the world, except the ACS, understands that Australia is a net winner when it can afford to import goods that help to transform the products and services base and boost productivity and efficiency," he said.


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