NZ posts first trade deficit for March month in 10 years as fuel imports surge

Thu, 26 Apr 2018

By Tina Morrison April 27 (BusinessDesk) - New Zealand posted its first trade deficit for a March month in a decade as a jump in fuel imports outweighed higher exports of butter and logs. Goods imports rose 14 percent to $4.94 billion in March compared with the same month a year earlier, mainly driven by imports of crude oil, petrol and diesel, aircraft, computers, and tractors, Statistics New Zealand said. Petroleum and products surged $297 million, or 88 percent, to $634 million in March 2018, the largest increase since a $453 million r...

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