Australia recorded a trade deficit in January, which is considered the first in 11 months, on weaker exports of gold, iron ore and coal.
As, the Bureau of Statistics said in a report in Sydney today, that the Imports outpaced exports by A$673 million ($715 million), from a revised A$1.33 billion surplus in December.
The Australian economy issued January's trade balance, where it narrowed to A$-673 million, compared with the prior reading of A$1709 million, which was revised to A$ 13.25 million, also it missed expectations of A$15000million,
The data add to pressure on central bank Governor Glenn Stevens to end a two-month pause in interest-rate cuts after the economy slowed last quarter and payrolls fell in February. The currency has strengthened this year on a A$456 billion pipeline of resource projects driven by companies such as BHP Billiton Ltd. even as concern remains that Europe's debt crisis will curb world growth.