27 Oct 2015

Biggest monthly trade deficit in year

3:30 pm on 27 October 2015

New Zealand has posted its biggest monthly trade deficit in a year on the back of weaker exports.

Official figures show a deficit of $1.2 billion in September, the second consecutive monthly $1 billion deficit and well above expectations for a deficit of about $800 million.

Statistics NZ said exports were slightly below August's earnings, with the fall in dairy prices and volumes the main influence, while imports nudged higher.

The deficit for the 12 month ended September was fractionally lower at $3.2b but is still hovering close to the six-year high touched last month.