NZ posts record monthly trade deficit in August on higher imported fuel costs

Tue, 25 Sep 2018

By Tina Morrison Sept. 26 (BusinessDesk) - Higher fuel costs helped propel New Zealand imports to near record levels in August, contributing to the largest ever monthly goods trade deficit. The country had a $1.5 billion trade deficit in August, bigger than the $1 billion average August monthly deficit during the past five years and the highest ever recorded, Stats NZ said. Economists surveyed by Bloomberg had expected a deficit of $925 million. The New Zealand dollar dropped as low as 66.33 US cents after the data was released, from 66.4...

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