New Zealand Trade Deficit Narrows in August

New Zealand's trade gap decreased to NZD 472 million in August of 2014 from a NZD 1236 million shortfall a year earlier. It is the smallest trade deficit for an August month since 2010, as cattle, milk fat, and cheese contributed to the rise in exports.

Goods exports rose NZD 227 million in August 2014 compared with August 2013, to NZD 3.5 billion. Live animals led the rise in exports, due to live cattle. Milk powder, butter, and cheese exports also contributed to the increase, led by higher quantities. The 16-percent rise in milk powder, butter, and cheese was led by milk fat and cheese.

The value of imported goods fell NZD 536 million to NZD 4.0 billion, compared with August 2013. The fall was influenced by the one-off import of a drilling platform in August last year.

Seasonally adjusted exports rose 15 percent, led by increases in crude oil, dairy, and meat exports. Seasonally adjusted imports fell 2.8 percent.

New Zealand Trade Deficit Narrows in August

Statistics New Zealand | Joana Taborda |
9/24/2014 12:02:05 AM