NZ posts January trade deficit as exports fall more than expected on dairy decline

Tue, 26 Feb 2013

Feb. 27 (BusinessDesk) – New Zealand recorded a trade deficit in January, reflecting a larger-than-expected decline in exports led by dairy products, while imports rose. The deficit was $305 million last month, for an annual trade gap of $1.3 billion, according to Statistics New Zealand. That compares to the forecast in a Reuters survey of a $100 million surplus. Exports fell to $3.35 billion from $4.07 billion a month earlier and compared to $3.65 billion in the Reuters survey. Imports rose to $3.65 billion from $3.58 billion. The seasona...

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