Australia trade deficit shrinks to 14mth low

Australia’s trade deficit shrank by much more than expected in February to its smallest in 14 months thanks to higher prices for resource exports, a likely boost to profits and incomes that also gave the local dollar a lift.

Wednesday’s figures from the Australian Bureau of Statistics showed the deficit on goods and services narrowed sharply to A$178 million (HK$1.44 billion) in February, from A$1.2 billion (HK$9.73 billion) the month before. That was well under forecasts of a A$1.0 billion shortfall (HK$8.11 billion) and helped nudge the Australian dollar higher.

via Business feed http://www.scmp.com/business/economy/article/1206063/australia-trade-deficit-shrinks-14mth-low