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January Trade Deficit Confirmed

Overseas Merchandise Trade (Exports): January 2002

January Trade Deficit Confirmed

The updated value of the merchandise trade balance for the January 2002 month is a deficit of $265 million, according to latest figures released by Statistics New Zealand. This replaces the early estimate published on 28 February 2002. This deficit is 11.6 percent of exports for the month. Deficits of more than 11.6 percent of exports have been recorded in only two out of the 10 previous January months, the last being in 1999.

The trend in the merchandise trade balance has been declining since August 2001.

The updated value of merchandise exports for January 2002 is $2,281 million. This value is $19 million (0.8 percent) less than the early estimate. The value of imports for the January 2002 month is $2,545 million.

The updated value of merchandise exports for the year ended January 2002 is $32,621 million, which is an increase of 9.7 percent from the previous January year.

The updated merchandise trade balance for the year ended January 2002 is a surplus of $610 million. This compares with a deficit for the previous January year of $1,443 million.

Brian Pink Government Statistician END

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