New Zealand’s annual trade deficit climbed to $3.4billion in September but BNZ head of research Stephen Toplis said the deterioration was inconsequential. Although the balance of trade was in negative territory, it was a far cry from the $7.3billion deficit recorded in February 2006. Statistics New Zealand said the country’s trade deficit grew to $1.44billion in the month of September, from $1.14billion a year earlier. That pushed meat exports down to third place in the monthly rankings, behind wood, although meat remained in second place on an annual basis. Excluding aircraft imports from the total, imports fell 0.8% to $4.7billion, Statistics NZ said.

Source: Otago Daily Times October 27, 2016 17:09 UTC