21 Dec 2016

NZ trade deficit narrows to $705m

4:05 pm on 21 December 2016

New Zealand's trade deficit has narrowed, as imports fell more than exports.

Official figures show the deficit stood at $705 million in November, slightly lower than October and a year earlier.

The annual deficit also shrank to $3.2 billion from October's $3.3bn.

Exports fell more than 5 percent on a year ago, led by weaker meat sales which offset increased dairy, fruit and log exports.

Imports were down more than 6 percent as New Zealanders bought less plant and machinery, although October's figures were boosted by the purchase of a large commercial airliner.