New Zealand's trade deficit widened unexpectedly last month as dairy exports declined and imports remained stronger than anticipated.
Statistics New Zealand said the trade deficit widened to $1.22 billion in September, from $1.08 billion in August, larger than the $825 million deficit forecast by economists. That compares with a $1.36 billion deficit in September last year.
The country's exports rose 2 percent to $3.69 billion in September, lagging behind the $3.9 billion expected by economists.
Shipments of meat and edible offal rose 33 percent to $438 million from the year earlier, led by frozen beef, which gained 69 percent due to higher prices, helping the 2014/15 beef export season reach a record $3.2 billion, the agency said.
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