FILE PHOTO: Containers are stacked at the port of Auckland September 30, 2011. REUTERS/Stefan Wermuth/File Photo
WELLINGTON (Reuters) – New Zealand’s trade deficit narrowed in October as dairy and lamb shipments fueled a jump in exports, despite imports hitting a record high.
The trade deficit narrowed in October to NZ$871 million ($599.94 million) from NZ$1.156 billion in September, according to data from Statistics New Zealand on Friday.
The annual trade deficit, however, widened only slightly to NZ$2.986 billion in October from a NZ$2.913 billion deficit the month prior.
There was also a decrease in the value of aircraft imports, the statistics office added.
($1=1.4518 New Zealand dollars)
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