NZ posts higher than expected July trade deficit
Wednesday, 27 August 2008
WELLINGTON, Aug 26 (AFP): New Zealand posted a higher than expected trade deficit in July as rising world oil prices boosted imports, official figures showed today.
The monthly trade deficit stood at 781 million dollars (550 million US) in July, well above economists' expectations of around 525 million dollars.
For the year to July, the deficit came to 4.44 billion dollars, down from 4.48 billion dollars in the year to June and from the 6.3-billion-dollar deficit seen the previous year, Statistics New Zealand said.
Exports in the month of July were worth 3.42 billion dollars, up 29.6 per cent from the same month last year, while imports rose 21.9 per cent to 4.2 billion dollars.
In the year to July, exports rose 18.1 per cent to 40.8 billion dollars and imports rose 10.6 per cent to 45.25 billion dollars.
The monthly trade deficit stood at 781 million dollars (550 million US) in July, well above economists' expectations of around 525 million dollars.
For the year to July, the deficit came to 4.44 billion dollars, down from 4.48 billion dollars in the year to June and from the 6.3-billion-dollar deficit seen the previous year, Statistics New Zealand said.
Exports in the month of July were worth 3.42 billion dollars, up 29.6 per cent from the same month last year, while imports rose 21.9 per cent to 4.2 billion dollars.
In the year to July, exports rose 18.1 per cent to 40.8 billion dollars and imports rose 10.6 per cent to 45.25 billion dollars.