New Zealand posted a merchandise trade deficit of NZ$472 million in August, Statistics New Zealand said on Wednesday - representing 13 percent of exports.
That beat forecasts for a deficit of NZ$1.125 billion following the downwardly revised NZ$724 billion shortfall in July (originally NZ$692 million).
Exports were worth NZ$3.52 billion, topping expectations for NZ$3.20 billion and down from NZ$3.69 billion.
Live animals led the rise in exports, due to live cattle. Milk powder, butter, and cheese exports also contributed to the increase, led by higher quantities. The 16-percent rise in milk powder, butter, and cheese was led by milk fat and cheese.
"Cattle, milk fat, and cheese contributed to the rise in exports," international statistics manager Jason Attewell said. "It is the first time in three years that a rise in dairy was not led by milk powder."
Imports came in at NZ$4.00 billion versus expectations for NZ$4.45 billion and down from NZ$4.41 billion a month earlier.
The fall was influenced by the one-off import of a drilling platform in August last year.
Seasonally adjusted exports rose 15 percent, led by increases in crude oil, dairy, and meat exports. Seasonally adjusted imports fell 2.8 percent.
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