Australia's trade balance is expected to continue to shrink as exports of key resources such as coal and iron ore grow. The nation's trade balance narrowed to $178 million in February, from a $1.215 billion deficit in January. The result was well below market expectations of a $1 billion deficit. Exports rose three per cent in February, while imports fell one per cent, the Australian Bureau of Statistics said. CommSec chief economist Craig James said recent trade figures have been complicated by weather disruptions. However, he expects Australia's trade position will continue to improve in the next couple of months. ... (full story)