The trade gap narrowed last month, propelled by resurgent dairy exports to China.
Imports at $4 billion exceeded exports by $200 million but that compares with an average deficit of $769 million over the previous five Septembers. The annual trade deficit fell to $1.5 billion from $2.1 billion in the year ended August.
August and September usually represent the low season for dairy exports but Statistics New Zealand said last month both values ($900 million, a 52 per cent increase on September last year) and quantities were particularly high, led by an increase in exports to China.
"We have probably seen the worst of the drought's impact and volumes should probably pick up further from here over the remainder of the year," said Westpac economist Anne Boniface.
"There may well also be some more catching up to do on export prices.