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Australia's record current account deficit has raised attention about the nation's flagging export performance.

Export volumes in the 1990s grew strongly (by 7.5 percent per annum), under the influence of a super-competitive low Australian dollar and a thirst by companies for export dollars. This along with supportive microeconomic reforms enabled the nation to lift its international competitiveness, and reassert its place as a top ten nation in terms of productivity growth.

Our manufactured exports prospered throughout this period as export volumes lifted b

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