Reduction in trade deficit welcome
Office of Hon Dr Michael Cullen
Reduction in trade deficit
The continued steady reduction in the trade
deficit was welcomed today by acting Finance Minister Trevor
Mr Mallard was commenting on the release of the
overseas merchandise trade figures for July.
trend has been rising faster than the imports trend for
eleven months now. This should take pressure off the current
account deficit," Mr Mallard said.
"I particularly welcome
the correction in today's data of the $180 million error in
the exports early estimate published last month.
corrected figure, although it still shows a modest deficit,
is a huge improvement on what commentators had been
expecting," Mr Mallard said.
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