(RTTNews) - New Zealand posted a trade deficit in November 2009 of NZ$520 million, according to data published Wednesday by Statistics NZ.

The figure marked 14.1 percent of the value of exports, which Statistics NZ said was the smallest November deficit since 2001.

Merchandise exports in November increased 9.4 percent compared to the previous year, reaching NZ$3.7 billion. The agency said the trend for merchandise exports continues to rise steadily thanks largely to high dairy prices and the start of oil exports from the Tui oil field.

Merchandise imports rose 5.2 percent on year, to reach NZ$4.2 billion. The overall value of imports has decreased, the agency said, coinciding with falling oil prices.
In the year to November 2008, exports to Australia, the largest destination for New Zealand’s goods, exceeded NZ$10 billion for the first time.

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Posted in Categories: Australia, Economy, New Zealand, Releases.

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