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Trade surplus slides in October


Australia's trade surplus has narrowed to its lowest level in a year as exports declined and imports continued to rise.

The trade surplus slipped to $105 million in October, down from a revised $1.6 billion surplus in September, the Australian Bureau of Statistics said on Thursday.

The market had expected the surplus to narrow to $1.4 billion in October.

Exports declined by a seasonally adjusted 3.0 per cent, or $903 million, in the month, led by a fall in metals, minerals and coal.

Imports were up 2.0 per cent, or $596 million, driven by an increase in food and beverages and fuels.

The Australian dollar slipped to 75.40 US cents after the figures were published at 1130 AEDT, from 75.66 US cents just prior their release.