New Zealand narrowed its trade deficit last month, with exports bringing in half a billion dollars more than they did a year earlier.

Goods exports rose $540 million (9.1%) on November last year, Stats NZ said today.

Goods imports fell $281m or 3.9% year on year.

The monthly trade deficit was $437m, the smallest November deficit since 2020.

The trade data emerged only a day after September-quarter GDP results showed the economy shrank 1% during the quarter.