The annual trade deficit has fallen to its lowest level in seven years in October, as the value of imports dropped more sharply than exports.
Statistics New Zealand says the deficit stood at $1.2 billion in the year to October.
Imports fell by 28% to $3.5 billion, due to a drop in purchases of fuel and mechanical machinery and equipment.
Exports fell by 22% to $3 billion, with milk powder, butter, and cheese the largest contributors to the fall.
On a monthly basis, the deficit totalled $487 million.
