New Zealand's Trade Deficit Widened In November

New Zealand's trade deficit widened in November, where crude oil prices increased along with the fertilizer purchases, as both bolstered imports, also the Exports increased for the third consecutive month.
Where, the trade-balance deficit for November widened to NZ$-308 million ($-240 million), compared with the prior reading of NZD$-228 million that was initially NZD$-282 million also it exceeded expectations of NZD$-300 million.

As, exports for November rose by 6.8% to reach it's highest level since June of NZD$3.91 billion, compared with the prior reading of NZD$3.88 billion, which was revised to NZD$3.89 billion, also it exceeded expectations of NZD$3.90 billion.

Also, New Zealand's imports for November rose to NZD$4.22 billion, compared with the revised reading of NZD$4.11 billion that was initially NZD$4.16 billion, yet it came below expectations of NZD$4.20 billion.
This rising in imports indicates signs of improving the domestic demand along with showing a steady economic recovery, early this year before an expected acceleration in the second half led by rebuilding of earthquake-devastated Christchurch.

On the other hand, overseas sales of dairy products and fruit drove exports to increase, yet meat, lumber and crude-oil shipments dropped, where the prices in the foreign markets weakened, as dairy exports increased by 19% compared wit the prior year's reading of NZ$1.19 billion.

Additionally, the New Zealand dollar declined by 5.5% during the past six months, which is balancing the effect of the weaker global commodity prices, as the New Zealand dollar was slightly changed, and it's currently trading around the level of 0.7796$, after reaching it's highest price at 0.7804$ and lowest at 0.7785$.