Investing.com – Australia's trade balance swung to a surprise deficit in February, official data showed on Tuesday.
In a report, the Australian Bureau of Statistics said the trade balance, or difference between imported and exported goods and services, swung to a deficit of AUD0.21 billion in February, compared to a surplus of AUD1.43 billion in January, whose figure was revised down from a surplus of AUD1.88 billion.
Economists had expected the trade balance to narrow to a surplus of AUD1.20 billion in February.
According to the data, the value of imports totaled AUD23.04 billion in February, while the value of exports came in at AUD 22.84 billion.
Following the decision, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.29% to hit 1.0331.
In a report, the Australian Bureau of Statistics said the trade balance, or difference between imported and exported goods and services, swung to a deficit of AUD0.21 billion in February, compared to a surplus of AUD1.43 billion in January, whose figure was revised down from a surplus of AUD1.88 billion.
Economists had expected the trade balance to narrow to a surplus of AUD1.20 billion in February.
According to the data, the value of imports totaled AUD23.04 billion in February, while the value of exports came in at AUD 22.84 billion.
Following the decision, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.29% to hit 1.0331.