New Zealand Sept. Goods Trade Deficit NZ$1.2 Billion

The FINANCIAL — New Zealand reported a trade deficit in September as imports, in particular those from China, continued to push higher, according to Nasdaq.

The country recorded a 1.2 billion New Zealand dollar (US$813 million) goods, or merchandise, trade deficit for September and a NZ$3.2 billion deficit for the 12 months to September.

Economists expected a September deficit of NZ$900 million and a 12-month deficit of NZ$2.87 billion.

Exports were NZ$3.7 billion in September, up 2.0% on the year, with meat and edible offal leading the rise. Imports were $4.9 billion, down 1.3% on the year. Statistics New Zealand noted that annual goods imports from China reached a new high of NZ$10 billion, up NZ$1.6 billion for the year to September. Monthly imports from China also topped NZ$1 billion for the first time in September.