New Zealand Trade Deficit Narrows in November


New Zealand's trade deficit narrowed to NZD 861 million in November 2018, compared with a NZD 1,222 million gap in the same month of the previous year and with market expectations of an NZD 880 million shortfall. It was the sixth straight monthly deficit.

Exports from New Zealand went up 7.1 percent year-on-year to NZD 4.94 billion. Sales were mainly nudged by aluminum (+142.0 percent to NZD 101 million), fruit (+60.3 percent to NZD 86 million), preparations of milk, cereals & fluor (+24.7 percent to 184 million), mechanical machinery & equipment (+20.1 percent to NZD 160 million), and meat & edible offal (+11.2 percent to NZD 553 million). The two main categories weighing on exports were fish and seafood (-8.6 percent to NZD 124 million) and casein (-13.9 percent to NZD 76 million). By main destinations, exports to Japan soared 49.9 percent and to Korea 29.9 percent. Sales to the US (+24.1 percent) and China (+18.0 percent) also grew significantly. In contrast, exports to the UE declined 6.7 percent. 

Imports to New Zealand edged down 0.6 percent year-on-year to NZD 5.80 billion. Among main categories, imports were dragged by vehicles (-22.5 percent to NZD 647 million), oil & products (-10.6 percent to NZD 504 million), and mechanical machinery (-6.5 percent to NZD 782 million). In contrast, textile and plastic imports jumped 15.0 percent  and 12.9 percent, respectively. Among main partners, imports from the US plunged 34.8 percent and from Japan 20.3 percent. In contrast, purchases from China rose 13.6 percent. 

New Zealand Trade Deficit Narrows in November


Statistics New Zealand | Mario | mario@tradingeconomics.com
12/20/2018 11:40:10 AM