NZ trade deficit doubles as prices rise

Imports outstrip exports. (Image: Getty)

Mon, 30 Jan 2023

New Zealand’s trade deficit doubled in calendar 2022 as price inflation came into play. The annual trade deficit was $14.5 billion in 2022 versus a deficit of $7.1b in 2021.Exports lifted 14% to $72.2b while imports jumped 23% to $86.7b. “Price inflation has been a topic of interest in 2022 and we’re seeing the results of it in these large increases,” Stats NZ's international trade manager, Alasdair Allen, said.“Many major export commodities eased in volume but saw price increases drive higher values...

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