New Zealand's trade deficit narrowed last month

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New Zealand’s trade deficit narrowed to $779 million in November.

The figure, smaller than the downwardly-revised $905 million deficit of October and forecasts for a narrowing to $809.5 million, was the smallest deficit recorded Since July.

Despite the small beat, the annual trade deficit rose to $3.68 billion from $3.18 billion reported previously.

Over the month exports rose to $4.08 billion, higher than the $3.9 billion figure expected, while imports inched up to $4.86 billion, again higher expectations for an increase to $4.75 billion.

The New Zealand dollar is slightly higher on the news, trading up 0.06% at .6804 against the US dollar.

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