New Zealand goods exports rose 4.3% yoy to NZD 5.0B in October. Goods exports dropped -1.4% yoy to NZD 6.0B. Trade deficit narrowed slightly to NZD 1.013B, down from NZD -1.319B, in line with expectations.
Exports to China rose NZD 279m to NZD 1.5B, led by rises in milk powder, lamb and beef. Exports to Australia was little changed at NZD 791m. Imports from China dropped NZD -100m to NZD 1.4B. Imports from EU dropped slightly by NZD-9.9m to NZD 965m.
