China demand puts a rocket under February dairy exports

(Image: Getty)

Fri, 22 Mar 2024

New Zealand’s trade deficit narrowed in February, bolstered by improving dairy and meat exports. The deficit was $218 million, compared with $847m a year earlier. Exports rose 16% to $5.9 billion, while imports were up 3.3% to $6.1b.“Booming exports on a year-earlier basis helped New Zealand post its smallest goods trade deficit since June,” said Shannon Nicoll, an associate economist with Moody’s Analytics. Exports were boosted by a 26% lift in milk powder, butter and cheese exports to $1.88b and a 16% li...

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