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2018.02.2617:25:00UTC+00New Zealand Has NZ$566 Million Trade Deficit In January

New Zealand had a merchandise trade deficit of NZ$566 million in January, Statistics New Zealand said on Tuesday.

That missed expectations for a flat reading following the NZ$596 million shortfall in December.

Exports were up 9.5 percent on year to NZ$4.31 billion, shy of forecasts for NZ$4.58 billion and down from NZ$5.49 billion in the previous month.

Imports spiked an annual 17 percent to NZ$4.87 billion versus expectations for NZ$4.60 billion and down from NZ$4.89 billion.

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