NZ turns to a trade deficit in July, led by falling log prices

Mon, 25 Aug 2014

By Tina Morrison Aug. 26 (BusinessDesk) - New Zealand posted its first monthly trade deficit in nine months in July, led by falling prices for export logs and wood products. Statistics New Zealand said the country had a trade deficit of $692 million in July, bigger than the $475 million deficit forecast in a Reuters poll of economists. Exports in July fell 3.3 percent from the same month a year earlier to $3.7 billion, lower than the $3.98 billion expected by economists in the Reuters poll. Imports dropped 4.8 percent to $4.4 billion, clo...

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