NZ posts biggest annual trade deficit in 7 years on drop in value of dairy, meat

Tue, 26 Apr 2016

By Jonathan Underhill April 27 (BusinessDesk) - New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. The trade deficit widened to $3.8 billion in the 12 months ended March 31, from a deficit of $2.37 billion a year earlier, Statistics New Zealand said. Annual exports fell to $48.8 billion from $48.9 billion, while imports rose to $52.7 billion from $51.3 billion. The annual def...

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