27 Oct 2011

Another trade deficit in September

7:45 pm on 27 October 2011

New Zealand posted its second consecutive monthly trade deficit in September, as demand for imports picked up.

Statistics New Zealand figures show the value of imported goods rose a seasonally-adjusted 2.7% to almost $4 billion in the month, while the value of exports rose 2.2% to $3.9 billion.

The result was a trade deficit of $751 million, after a deficit of $697 million the previous month.

The surplus for the year to September was $724 million, compared with more than $1 billion the previous month.

Economist expects the deficit to widen as commodity prices ease back and import demand picks up in line with the economic recovery.