NZ continues to import more than it exports

Of a total of $72.8b in exports in the 12 months ended April, $20.3b went to China. (Image: Getty)

Fri, 19 May 2023

New Zealand reported a seasonally adjusted trade deficit of $1.4 billion in April as imports continue to outstrip exports.Imports were $7.7b, down 1.1% compared with March, while exports were $6.3b, up 8%. In the year ended April, the annual trade deficit was $16.8b, which is far larger than it has been for the year ended April in the past decade. Westpac senior agri economist Nathan Penny said higher oil (petrol) prices explain a big chunk of the wider deficit over the year, while there is general inflation across imports as well.He...

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