Australia posted a seasonally adjusted merchandise trade deficit of A$178 million in February, the Australian Bureau of Statistics said on Wednesday.
That shattered forecasts for a shortfall of A$1 billion following the A$1.057 billion deficit in January - a fall of A$1.037 billion as the deficit contracted by 85 percent.
Exports climbed A$811 million or 3 percent on month to A$25.642 billion.
Non-rural goods rose A$714 million or 4 percent and rural goods added A$202 million or 7 percent. Net exports of goods under merchanting remained steady at A$20 million. Non-monetary gold dropped A$143 million or 10 percent. Services credits collected A$38 million or 1 percent.
Imports dipped A$226 million or 1 percent on month to A$25.820 billion.
Capital goods fell A$253 million or 4 percent and non-monetary gold lost A$32 million or 9 percent. Intermediate and other merchandise goods gained A$41 million and consumption goods gained A$3 million. Services debits were up A$15 million.
Also on Wednesday, the HIA said that new home sales in Australia contracted 5.3 percent on month in February - reversing the 4.2 percent increase in January.
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