In August, New Zealand recorded a merchandise trade deficit of NZ$2.203 billion, as reported by Statistics New Zealand on Monday. This figure significantly surpassed the anticipated deficit of NZ$155 million, following a downward revision of July's deficit to NZ$1.016 billion from the initially reported NZ$963 million.
Exports for the month dropped marginally by 0.1 percent year-on-year to NZ$4.97 billion. This is a decrease from July’s downwardly revised figure of NZ$6.09 billion, which was originally NZ$6.15 billion. Meanwhile, imports decreased by 1.0 percent compared to the previous year, amounting to NZ$7.17 billion. This followed a downward revision of July’s import figure to NZ$7.10 billion from the originally stated NZ$7.11 billion.
