New Zealand’s exports fell 6% in November, resulting in a trade deficit that was 41% wider than economists’ expectations. Around three quarters of the decline was explained by a 31% drop in meat exports, which in turn was likely the result of the mid-month earthquake that hit the country. This closed ports in agricultural areas, but there should be a rebound in December as delayed shipments resume. Exports to the U.S. fell 23%, the fifth straight decline, probably due to reduced mineral water exports, Panjiva data shows.
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