NZ’s annual trade deficit shrinks to smallest in 15 months

NZ's trading relationships are changing. (Image: Getty)

Tue, 19 Dec 2023

New Zealand posted its skinniest annual merchandise trade deficit in 15 months in November as the nation continued to dial back its appetite for foreign goods. The annual trade deficit was $13.87 billion in the 12 months to Nov 30 – smaller than the $14.99b reported a year earlier and the narrowest gap since September last year. The value of goods exported over that period fell 3.1% to $69.34b, a slower pace of decline than the 3.8% reduction in goods imported to $83.21b, Statistics NZ figures showed.NZ’s trade deficit det...

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