New Zealand Trade Gap Hits Record High in September


New Zealand trade deficit widened to NZD 1436 million trade deficit in September of 2016, compared to a NZD 1140 million shortfall a year earlier and above market expectations of NZD 1125 million gap. It was the biggest trade gap since the series started in 1951. Exports dropped by 5.7 percent, led by lower sales of meat and edible offal. Imports rose by 1.8 percent, driven by a growth in purchase of capital goods.

Exports dropped by 5.4 percent year-on-year to NZD 3,467 million, led by lower sales of meat and edible offal (-35 percent) and milk powder, butter, and cheese (-1.2 percent). Outbound shipments declined to Australia (-6.3 percent); the US (-19 percent); Japan (-19 percent); EU (-6.2 percent) while exports to China rose by 13 percent.

Imports rose by 1.8 percent year-on-year to NZD 4,902 million, mostly driven by a growth in purchase of capital goods (6.6 percent). Purchases went up from  the US (34 percent) and Japan (9 percent) while fell from China (-4.7 percent), EU (-9.2 percent) and Australia (-5.8 percent).

New Zealand Trade Gap Hits Record High in September


Statistics New Zealand | Yekaterina Guchshina | yekaterina@tradingeconomics.com
10/26/2016 10:32:33 PM