Dairy exports help trim annual trade deficit to $16b

Exports into China were down 7.2% for the month. (Image: Port of Tauranga)

Mon, 24 Jul 2023

A $1.1 billion drop in imported goods and 1.3% improvement in exports by value of $1.6b, saw the monthly trade balance move into a surplus of $8.8 million for June, according to Statistics New Zealand.Exports of $6.3b were led by a $170m increase in the value of milk powder, butter and cheese to $1.8b while petroleum product imports were down $374m, or almost a third, with iron and machinery imports down $94m or 9.5% compared to the prior June.That followed the $1.6b rise in imports led by petrol and diesel imports last June, after the closure...

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