The ABS has just released its international trade in goods and services data for October and it shows the trade deficit is narrowing.
Seasonally adjusted the October data shows it has fallen to -$1.323 billion, a decrease of $912 million (41%) on the $2.35 billion deficit recorded in September 2014.
The market expected a deficit of $1.8 billion in October.
Exports rose 2%, while imports were down 2%.
The full release is here.