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New Zealand had a merchandise trade deficit of NZ$626 million in January, Statistics New Zealand said on Friday - following the NZ$69 million surplus in December.
Exports were down NZ$486 or 10 percent on year to NZ$4.19 billion, down from NZ$5.38 billion in the previous month.
Imports slid NZ$256 million or 5.0 percent on year to NZ$4.82 billion, down from NZ$5.32 billion a month earlier.
For the year to January, exports fell NZ$775 million or 1.3 percent to NZ$59 billion and imports lost NZ$7.4 billion or 12 percent to NZ$57 billion. The annual trade surplus was NZ$2.7 billion.
