$250m trade deficit for month

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Imports exceeded exports in December by $250 million or 6.6 per cent. In recent years December months have typically recorded trade deficits, averaging 6.4 per cent of exports, Statistics New Zealand said.

December 2010's deficit is largely explained by one item, however, the import of an aircraft worth $230 million. For 2010 as a whole there was a trade surplus of $1.1 billion, equivalent to 2.6 per cent of exports. It was driven by increases of 29 per cent in dairy product exports and 27 per cent in logs and wood, and a rise of 37 per cent in aluminium.