New Zealand Has NZ$1.295 Billion Trade Deficit

(RTTNews) - New Zealand had a merchandise trade deficit of NZ$1.295 billion in October, Statistics New Zealand said on Tuesday.

That missed expectations for a shortfall of NZ$850 million following the NZ$1.560 billion deficit in September.

Exports climbed 6.6 percent on year to NZ$4.86 billion - shy of expectations for NZ$4.88 billion but up from NZ$4.33 billion in the previous month.

Imports surged an annual 14 percent to NZ$6.15 billion versus expectations for NZ$5.74 billion and up from NZ$5.89 billion a month earlier.

Year to date, the trade deficit is NZ$5.786 billion versus forecasts for a shortfall of NZ$5.121 billion following the NZ$5.188 billion deficit in September.