Australian exports drop 2%

Australian exports decreased 2.0% in February, while imports dropped 4.0% in adjusted terms, according to the Australian Bureau of Statistics (ABS).

Economists had forecasted a trade surplus of $1.1 billion for the month, but the ABS report showed a deficit of $480 million, seasonally adjusted.

Goods and services credits fell $518m or 2% to $24,425 million.

Non-rural goods fell 3%, while rural goods fell 9%.

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