New Zealand Trade Balance Swings to Deficit


New Zealand posted a NZD 143 million trade deficit in July 2018, compared with a NZD 92 million surplus in the same month of the previous year and with market expectations of a NZD 400 million deficit. Exports surged 15.8 percent from the previous year to NZD 5350 million and imports soared 21.3 percent to NZD 5492 million.

Imports soared 21.3 percent year-on-year to NZD 5490 million compared to an upwardly revised 16.2 percent jump in the previous month and the largest since November last year. Purchases rose boosted by oil & products (+83.9 percent); mechanical machinery & equipment (+16.7 percent) and vehicles, parts & accessories (+4.4 percent). In contrast, aircrafts & parts declined 8.5 percent. Among top imports partners, purchases surged from China (+27.7 percent), the EU (+15 percent), Australia (+6.7 percent), the US (+12 percent) and Japan (+17 percent). Notably, imports from the United Arab Emirates surged 621.5 percent to NZD 322 million (vs NZD 45 million).

Meantime, exports jumped 15.8 percent from the previous year to NZD 5350 million compared to a downwardly revised 4.0 percent climb in the previous month. Sales increased driven by milk powder, butter & chesse (+21.3 percent); meat and edible offal (+22.0 percent) and logs, wood & wood articles (+30.5 percent). Among major exports partners, sales gained steam to China (+27.6 percent), the US (+4.1 percent) and the EU (+3.5 percent). Notably, exports to Singapore soared 150.4 percent. In contrast, exports to Australia declined 2.8 percent.


New Zealand Trade Balance Swings to Deficit


Statistics New Zealand | Mario | mario@tradingeconomics.com
8/24/2018 8:54:45 AM