New Zealand's merchandise trade deficit reached NZ$976m in January, exceeding expectations.

New Zealand's merchandise trade deficit reached NZ$976m in January, exceeding expectations of a NZ$200m shortfall, according to Statistics New Zealand. Exports dropped to NZ$4.93bn from a downwardly revised NZ$5.85bn in the previous month. Imports fell to NZ$5.91bn from a revised NZ$6.22bn. The yearly trade deficit to January was NZ$12.50bn.