NZ Trade Deficit comes in larger than expected
07 January 2008
New Zealand's Trade Deficit came in larger than expected at -$646m over November's forecast on a narrowing to -$450m. Despite higher dairy prices and further production from the Tui oil field; exports disappointed by falling 3.6% m/m to $3.30bn vs $3.42bn in the prior data release. Overall import growth eased by 4.7% m/m to $3.948bn after last months one off record high of $4.144bn.