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Financial News: New Zealand August Trade Deficit NZ$1.484 Billion

New Zealand August Trade Deficit NZ$1.484 Billion

09/25/2018 - 19:49:00 (RTTNews)

(RTTNews) - New Zealand posted a record merchandise trade deficit of NZ$1.484 billion in August, Statistics New Zealand said on Wednesday - representing 37 percent of exports.

That missed forecasts for a shortfall of NZ$925 million following the revised deficit of NZ$196 million in July (originally -NZ$143 million).

Exports were up 9.9 percent on year in August to NZ$4.05 billion - missing forecasts for NZ$4.40 billion and down sharply from NZ$5.34 billion in the previous month.

Imports jumped an annual 14.0 percent to NZ$5.54 billion versus expectations for NZ$5.50 billion - roughly unchanged from the previous month.

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