Trade deficit narrows as imports decline

Imports of petroleum and petroleum products for the quarter fell by $930m (27.5%) compared with the March 2023 quarter. (Image: Getty)

Staff reporters

Wed, 05 Jun 2024

New Zealand's trade deficit was $1.4 billion in the March 2024 quarter, according to figures released by Stats NZ today. This was a narrowing from a $2.6b deficit in the March 2023 quarter. “The smaller trade deficit is being driven by a decrease in imports more than a large increase in exports,” Stats NZ international trade manager Alasdair Allen said. “Travel exports especially only had a modest increase and have not yet returned to historical levels for March quarters.”Declines in goods from the thr...

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