FX.co ★ New Zealand Has NZ$701 Million Trade Shortfall In June

New Zealand posted a merchandise trade deficit of NZ$701 million in June, Statistics New Zealand said on Thursday - following the downwardly revised NZ$195 million surplus in May (originally NZ$263 million).

Exports rose 7.7 percent on year to NZ$6.42 billion, while imports surged an annual 25 percent to NZ$7.12 billion.

In the year to June, annual goods exports were valued at NZ$67.6 billion, up NZ$7.2 billion from the previous year. Annual goods imports were valued at NZ$78.1 billion, up NZ$17.4 billion from the previous year.

The annual trade deficit was NZ$10.5 billion. In the year ended June 2021 there was a deficit of NZ$277 million.