NZ trade deficit widens to $285m in January, dominated by crude oil

Mon, 27 Feb 2017

By Sophie Boot Feb. 28 (BusinessDesk) - New Zealand widened to a $285 million trade deficit in January with imports rising to a record for the month, led by crude oil. The monthly trade deficit was worth 7.3 percent of exports, though that drops to 0.9 percent, or $36 million, when crude oil exports and imports are excluded, Statistics New Zealand said. The country had a $41 million trade deficit in December 2016. Exports rose 0.3 percent to $3.9 billion from the year earlier month, led by milk powder, butter and cheese which gained 4....

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