New Zealand October trade balance data:

Trade balance -908m (largest October deficit since 2008)

  • expected -642m, prior was -1350m

Exports 4.03bn

  • expected 4.60bn, prior was 3.61bn

Imports 4.94bn

  • expected 4.60bn, prior was 4.97bn

NZ trade recorded a deficit of NZ$107m in the 12 months to October 31

  • First 12-month deficit since Dec 2013
  • Was a NZ1.78bn surplus in the 12 months to August

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From Statistics New Zealand:

  • Total goods exports were down $215 million (5.1 percent) in October 2014 compared with October 2013
  • Goods exports to China led the fall, down $433 million
  • “Milk powder exports to China fell after the record prices and quantities of late 2013, contributing to a 40 percent fall in exports to China,” international statistics manager Jason Attewell