New Zealand Trade Deficit Narrows in July

New Zealand trade gap shrank to NZD 649 million in July of 2015, down from a NZD 943 million deficit a year earlier. While exports expanded by 14 percent, imports rose at a slower 4.8 percent.

Year-on-year, total goods exports increased by NZD 514 million to NZD 4.2 billion, as fruit sales went up by 51 percent (+ NZD 105 million) to NZD 311 million. Also, meat exports rose NZD 99 million (+24 percent). The rise was led by beef, up NZD 70 million (+40 percent). Milk powder, butter, and cheese exports showed little change, up NZD 0.9 million (+0.1 percent) to NZD 932 million. As, increases in cheese, dairy spreads, and milk protein concentrates were enough to offset the fall in milk powder exports (down NZD 76 million).

Imports rose by NZD 221 million to NZD 4.8 billion compared to July 2014. Consumption goods rose NZD 176 million and capital goods rose NZD 161 million. In contrast, intermediate goods fell NZD 96 million, led by crude oil.

For the year ended July 2015, the annual goods trade deficit was NZD 2.7 billion. 

New Zealand Trade Deficit Narrows in July

Statistics New Zealand |
8/26/2015 12:05:50 AM