NZ records $2.3b Aug trade deficit on weak China demand

(Image: Unsplash)

Fri, 22 Sep 2023

Weak demand from China continued to weigh on New Zealand’s merchandise trade in August. The August merchandise trade deficit was $2.3 billion, with exports 5.6% to $5.0b on the year and imports down 8.1% to $7.3b. August marked the third consecutive deficit since May’s “razor thin” surplus, Shannon Nicoll, associate economist at Moody’s Analytics, said. It was also the largest deficit since last October. On the export side, meat and edible offal exports tumbled 15% to $621 million, while mi...

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