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Source: MIL-OSI Submissions

Increase in imported goods values drives trade deficit – Media release

2 December 2021

New Zealand recorded a trade deficit of $6.3 billion in the September 2021 quarter, following a surplus of $548 million in the June 2021 quarter, Stats NZ said today.

Trade goods values for exports fell $2.7 billion to a total of $14 billion in the September 2021 quarter, while goods values for imports rose $3.2 billion to a record total of $19 billion.

In the same period, prices increased for both import goods (up 3.8 percent) and export goods (up 4.6 percent), leading to a 0.7 percent quarterly increase in the terms of trade. Seasonally adjusted volumes for import goods rose 3.4 percent on the previous quarter, while export volumes fell 3.0 percent.

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