New Zealand Trade Deficit Tops Expectations

Sep 26, 2007 - New Zealand's trade balance was a deficit of NZ$945 million in August, marking the highest level since it touched NZ$825 million in January this year. In July, trade deficit widened to NZ$791 million.

In August, the trade balance topped expectations of analysts. They were expecting a deficit of NZ$990.0 million.

Merchandise exports slid 2.7% year-over-year to NZ$ 2.7 billion in August, while imports dropped 2.2% to NZ$3.6 billion.

During the three months ended August, exports of merchandise goods fell 7.9% or NZ$687 million to NZ$8.0 billion, compared to the same period of the previous year. In 2005, exports grew 18.9% in the same period.

In the same period, imports of merchandise goods totaled at $10.3 billion, which is down NZ$247 million or 2.3% year-over-year.