29 Jan 2009

NZ exports up in 2008

12:02 pm on 29 January 2009

The value of New Zealand's exports surged strongly last year despite the economy being in recession.

Statistics New Zealand says exports in 2008 were worth nearly $43 billion, an increase of 17.4% on 2007.

Radio New Zealand's political editor says it was the largest annual rise in exports for eight years.

Dairy exports contributed greatly to the increase in trade.

Imports also rose during the year - although not as fast - to $48.5 billion, leaving New Zealand with a substantial trade deficit.