Trade deficit continues to shrink as pressure on Chinese exports eases

Exports are down – but so are imports. (Image: Getty)

Thu, 22 Feb 2024

The annual deficit in merchandise trade dropped for the eighth consecutive month as imports and exports continued to fall, but with imports declining faster.Trade data for January released by Statistics NZ on Thursday showed a monthly deficit of $976 million, with exports of goods falling $375m (7.1%) to $4.9 billion, while imports of goods fell by $1.5b (20%) to $5.9b, compared with Jan 2023.In the year to January 2024, exports were down $4.2b (5.8%) to $68.3b, while imports were down $7.4b (8.4%) to $80.8b.The annual trade deficit was $12.5b...

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