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Source: MIL-OSI Submissions

Petroleum imports fuel large deficit – Media release

21 July 2022

Petroleum and products imports rose $795 million to reach a new high of $1.2 billion, Stats NZ said today.

This rise lead the sharp increase in total imports for the month compared with June 2021.

Total imports were valued at $7.1 billion, while exports were valued at $6.4 billion, resulting in a deficit of $701 million in June 2022. This is the largest June deficit on record.

The main categories of petroleum products are crude oil, diesel, and petrol. Crude oil imports have stopped since the Marsden Point refinery ceased refining operations as of April 2022.

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