le, and many of Australia's trading partners grew sluggishly. As a result, demand for Australia's exports fell by 4.2%. This caused the BOGS component of Australia's CAD to blow out from a small $1.6dn deficit in 2001-02 to a $19.7bn deficit in 2002-03. In 2004, Australia's BOGS was expected to remain large, owing to the fact that that strong Australian dollar makes imports cheaper and hurt
             ...