NZ annual goods trade deficit narrows in 2023

(Image: Getty)

Mon, 29 Jan 2024

New Zealand's trade deficit narrowed in 2023, as a fall in imports outstripped lower exports. The annual trade deficit was $13.6 billion versus $14.6b in the prior year. The nation exported $68.7b, down $3.3b or 4.5% on the prior year. NZ imported $82.3b, down $4.3b or 5%.Times got much tougher in the second half of the year, according to Stats NZ. “The fall in exports for the second half of 2023, when compared with 2022, were led by unit price falls for most of our main export commodities,” international t...

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