New Zealand November trade balance, -213m
- expected is -575m, prior was -908m
November exports, 4.02bn
- expected 4.03bn, prior was 4.03bn
November imports, 4.24bn
- expected -4.58bn, prior was -4.94bn
More – via Statistics New Zealand:
- Exports fell $421 million (9.5 percent) to $4.0 billion.
- Milk powder, butter, and cheese led the fall (down 27 percent, with the quantity down 3.1 percent)
- The fall in dairy reflects the record high levels exported, mainly to China, in November 2013.
- A 20 percent rise in meat exports partially offset the fall, led by a price-driven rise in frozen beef.
- Exports to China fell $539 million (44 percent) to $686 million (trend for exports to China is 42 percent lower than the series peak in December 2013, and is now at similar levels to 2012)
- Imports fell $54 million (1.3 percent) to $4.2 billion.
- Capital goods (aircraft and helicopters) led the fall.
- There was a trade deficit of $213 million (5.3 percent of exports).
- The trend for exports showed little change.