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Widest monthly trade deficit to date
September 2021 marks the third successive month of record imports, resulting in a record trade deficit, Stats NZ said today.
Total merchandise goods imports for September 2021 rose $1.5 billion (30 percent) compared with September 2020, to reach $6.6 billion. With total merchandise trade exports valued at $4.4 billion, having risen $387 million, the September trade balance is a deficit of $2.2 billion.
"These three consecutive record months for imports are a reflection of both the higher prices New Zealanders are paying for consumer goods, and strong demand for capital goods such as machinery used in construction, and passenger vehicles," international trade manager Alasdair Allen said.
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