NZ November trade deficit $186m

Higher prices for dairy products were the main factor behind a 19% rise in the value of exports in November compared to a year earlier.

Statistics New Zealand today put the value of exports for the month at $3.7 billion, up $589 million from November 2009.

The value of imports rose $495 million or 15% to $3.8 billion, including a rise of $152 million or 21% in processed industrial supplies.

The trade deficit for November was $186 million or 5.1% of exports, compared to an average November deficit of 24% of exports for the previous five years.

For the year to November, New Zealand had a trade surplus of $1.3 billion or 3.1% of exports. It was the first annual surplus for November since 2001.

NZPA

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