Exports down for fourth quarter in a row
Exports have fallen for the fourth quarter in a row, but the trends are easing.
Exports have fallen for the fourth quarter in a row, but the trends are easing.
Brian Fallow: This morning's interest rate decision for the Reserve Bank is almost a photocopy of the last one on December 10.
First it was baby formula - now it appears NZ-sourced Fonterra milk powder is also being sold online in China.
There is concern that Chinese-New Zealanders are buying thousands of tins of baby milk powder from supermarkets and selling it online.
NZ had a lower than expected trade deficit of $269m in November, while the annual trade deficit fell to its lowest level since September 2002.
New Zealand recorded a seasonally adjusted current account surplus of $340 million in the September quarter.
Fonterra says it has completed the acquisition of a Saudi Arabian milk company.
Fonterra is in talks to buy out its partner in the Saudi Arabian milk and cheese market, Saudi New Zealand Milk Products.
New Zealand's only tea plantation is now certified organic in time to begin exporting its harvest.