Trade balance in deficit in Jan

The Australian Bureau of Statistics has released international trade figures for January.

Australia's trade balance has fallen deeper into the red with a deficit of $980 million in January, following a deficit in December of $503 million.

Economists had expected a deficit of $930 million in January.

Exports rose 1.0 per cent, while imports were up 3.0 per cent, the Australian Bureau of Statistics said on Thursday.