Trade deficit shrinks in July

The Australian Bureau of Statistics has released the official international trade in goods and services figures for July.

Australia's trade balance remains in the red with a deficit of $2.4 billion in July, new data shows. (AAP)

Australia's trade balance remains in the red with a deficit of $2.4 billion in July, following a deficit of $3.2 billion in June.

Economists had expected a deficit of $2.7 billion in July.

Exports rose 3.0 per cent in the month, while imports were flat, the Australian Bureau of Statistics said on Thursday.