Milk powder export values increased by $626m or 133% while quantities increased 42%.
Combined butter, cheese and milk powder exports increased by $690m in October 2013, up 85% in comparison to the corresponding month last year, to $1.5 billion while quantities increased 22%.
The average value of milk powder, butter and cheese exports over the previous five Octobers was $529m.
Other agricultural products helped create the low deficit.
October 2013 v October 2012
Exports rose $783 million (23%) to $4.2 billion.
Milk powder, butter, and cheese led the increase in exports, up $690m.
Imports rose $237m (5.7%) to $4.4b.
Vehicles, parts and accessories led the increase in imports, up $86m.
There was a trade deficit of $168m (4% of exports).
Logs, wood and wood articles export value rose $77 million (26%) due primarily to pine logs.
Casein and caseinates rose $27 million (39%).
"The low trade deficit was due to exported goods recording the highest value for an October month," industry and labour statistics manager Louise Holmes-Oliver said.
"It was the highest value for exported goods for any month since March 2013.”
The value of exported goods rose $783 million (23%) to $4.2b compared to October last year.
The value of imported goods rose $237 million (5.7 %) to $4.4b.
Intermediate goods, which are goods that are used in a finished product were up $93 million.
Crude oil export quantities fell from September 2013, after being at their highest level since July 2012.
A trade deficit means a country's imports exceeded its exports.
