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Monday, 29 November 2010

Deficit down

So, the trade deficit has shrunk - good news. The important point is the New Zealand dollar has been on a high over this period, but exports have grown. Which goes to show that we shouldn't worry so much about our high dollar clobbering exporters - interestingly forestry products recorded strong growth. Forestry is an industry where prices are set well in advance. There's a lesson there for us.