Goods exports to China increased 9.2% to $678 million in October from the year-earlier month, taking annual exports to the country to $8.41 billion, Statistics NZ said.
Exports to Australia slipped 8% to $754m in the month, for an annual total of $8.36b, the agency said.
China became NZ’s largest export destination in November 2013, as the country benefited from an October 2008 free-trade agreement to the world's second-largest economy.
However, China fell behind Australia in NZ’s export rankings from March through to September this year amid declining exports of dairy products, this country’s largest export commodity.
China returned as both the largest annual import and export market for NZ in October, with total trade of $18.49b, compared with total Australian trade of $14.65b.
"China is back as both our top export destination for goods, and our top source of imports," ASB rural economist Nathan Penny said in a note.
"Australia had been the top goods export destination. Although milk powder exported to China fell 65% for the year ended October 2015, it is still the largest commodity export.
“Other exports to China, such as beef and fruit, have doubled in value in the past year."
NZ recorded a trade deficit of $963m in October, close to the $937m deficit expected in a Reuters poll of economists.
The annual deficit of $3.24b compared with expectations for a $3.37b deficit in the Reuters poll.
In the month of October, NZ exports fell 4.5% to $3.83b from the year-earlier month, compared with expectations for $4.02b in the Reuters poll.
The decline was led by a 29% drop in the value of milk powder exports to $473m as prices declined.
In contrast, exports of meat, the second-largest commodity group, rose 23% led by a 40% rise in beef exports to $170m, and a 14% increase in lamb exports, the statistics agency said.
Fruit exports jumped 42% to $105m, led by an 81% gain in kiwifruit.
Meanwhile, imports slid 2.2% to $4.79b in October from the year-earlier month, compared with expectations for $5.01b in the Reuters poll.
The declines were led by falls in petrol and avgas and capital goods, the agency said.
