24 Sep 2015

Trade deficit widens in August

3:08 pm on 24 September 2015

Official figures show New Zealand posted a $1.04 billion deficit in August, compared to $465 million in the same period a year earlier.

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Imports grew 19 percent, pushing up the trade deficit Photo: 123RF

Exports grew by 6 percent to $3.7 billion - the highest ever value for an August month - due to higher sales of meat and fruit, which offset declines in dairy products.

But imports jumped by 19 percent to $4.8 billion, led by aircraft.

On an annual basis, the deficit stood at $3.3 billion.