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New Zealand Has NZ$353 Million Trade Deficit

newzealandcpi 071510

New Zealand posted a merchandise trade deficit of NZ$353 million in August, Statistics New Zealand said on Thursday.

That follows the upwardly revised NZ$447 million trade surplus in July (originally NZ$282 million).

Exports were up NZ$349 million or 8.6 percent on year to NZ$4.41 billion, down from NZ$4.91 billion in the previous month.

Individually, there were rises in aircraft and parts, fruit, live animals and milk powder - while crude oil and fish dropped.

Annual goods exports were valued at NZ$60.7 billion, up NZ$1.6 billion from the previous year.

Imports tumbled NZ$940 million or an annual 16.0 percent to NZ$4.76 billion, up from NZ$4.63 billion a month earlier.

Individually, there were rises in electrical machinery and medical equipment - while vehicles and parts, petroleum products and mechanical machinery were down.

Annual goods imports were valued at NZ$59.4 billion, down NZ$5.3 billion from the previous year.

The average deficit in the previous five August months was NZ$1.3 billion.

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