NZ records largest monthly cut to trade deficit since May

Exports to China, Australia and Japan were down, but they increased to the US and the European Union. (Image: Getty)

Wed, 24 Apr 2024

A 12% rise in exports enabled New Zealand to achieve its first trading surplus since May last year.Trade data for March released by Statistics NZ today showed a surplus of $588 million. Compared to March last year, imports were 24.8% lower (down $1.9 billion) while exports were 3.8% higher (up $240m).A good portion of the drop in imports, compared to March 2023, came from a $401m reduction (92%) in aircraft and parts. Petroleum and products fell $394m (31%) to $872m.Vehicles, parts and accessories imports dropped 28% to $713m. Passenger ca...

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