New Zealand-Trade deficit narrows.

NEW ZEALAND.

TRADE DEFICIT.

The trade deficit in New Zealand narrowed in November, which was a surprise to everyone concerned, in light of the economic downturn.

The gap narrowed of NZ$5.16 billion from the figure of NZ$5.27 billion in October.

The low dollar made import unattractive and the cut backs in people spending of course cut back the demand for imports.

Car imports dropped 52% and crude oil imports dropped 29% from the previous year.

Sales of dairy produce rose 10% making up 30% of total exports.