Strong dairy exports narrow Sept trade deficit

Wed, 23 Oct 2019

The September trade deficit was narrower than expected as a surge in butter, milk and cheese exports offset a slide in logs and fruit. The September trade deficit was $1.2 billion while the annual deficit was $5.21 billion, Stats NZ said. Economists polled by Bloomberg had expected a monthly deficit of $1.4 billion and an annual deficit of $5.25 billion. The “major area of surprise” was the stronger than expected exports, said ASB Bank senior economist Mark Smith. Exports rose 5.1 percent to $4.5 billion, boosted by a 28 percent or $19...

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