Trade deficit doubles in September Australia's trade deficit has doubled, as a falling Australian dollar and lower commodity prices push the nation's balance sheet further into the red. The deficit blew out to $2.261 billion in September, making it the sixth consecutive month the trade figures have been in the red. It was at $1.013 billion in August. Exports rose one per cent, while imports were up six per cent, the Australian Bureau of Statistics said on Tuesday. The Australian dollar fell 6.3 per cent in September to end the month at 87.50 US cents, making exports cheaper and imports dearer. JP Morgan economist Tom Kennedy said the weaker exchange rate had its biggest influence on the value of imports across all categories. "The swift move lower in the currency through September appears to have influenced both sides of the trade ledger, with import values the notable outperformer," he said. Indeed, import values recorded the strongest monthly growth rate since September 2009, vaulting 5.6 per cent higher in the month. Mr Kennedy said the lower Australian dollar would have less of an impact on the October figures because it had bounced around between 87 and 88 US cents for most of the month. Commonwealth Bank economist John Peters said the falling value of Australia's mineral exports also weighed on the trade figures. There was a six per cent slide in the value of our coal and iron ore exports, even though the amount shipped increased. "The trade accounts are likely to return to surplus in 2015 as export volumes trend higher and the solidly lower Australian dollar, if sustained, works its magic in terms of the improved competitiveness of Australia's exports," he said. Mr Peters believes the trade balance will be also helped by more liquefied natural gas projects going into production, satisfying Asia's thirst for energy. "The emerging economies of Asia, including China and India, are only in the early stages of their journey to becoming advanced economies," he said. The ongoing development phase of these economies is mining resources intensive.