Watch video on YouTube here. Watch on our video page here. Bernard Hickey delivers an economic weather report in association with ASB, including a look at trade figures showing imports falling slightly faster than exports in October from a year ago. This means our trade deficit improved in October, but its turnaround earlier this year has run out of steam. Exports of dairy products, oil and aluminium fell from October 2008 as New Zealand dollar prices fell, partly because of a stronger New Zealand dollar. Imports of cars, machinery and fertiliser fell, suggesting business investment is weak. Oil imports were also down because of lower oil prices. Exports to China, however, are up over 50% in the last year from a year ago, while imports from China are up only slightly, suggesting the Free Trade Agreement has been a big success.
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