The Increase In Imports Led To A Trade Deficit In New Zealand
Publish Date : 2019/08/26 - 10:56

Analysts at the New Zealand and Australian Banking Group (ANZ) reported their results after the New Zealand trade balance was released early Monday.

They said: "Exports improved slightly in July, but large imports lowered the trade balance and created a deficit of $ 685 million.

The increase in imports of gasoline and machinery made the annual trade balance reach $ -5.46 billion. July delivered an unadjusted monthly trade deficit of $685m. Deficits are normal due to the limited volume of agricultural exports during the winter months.

On an unadjusted basis export returns were down 5.8% YoY in July while imports were up 3.1%.

They see limited exports in August due to low seasonal production and reduced tree cutting.

Source:Fxstreet

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