Surge In Imports Results In Record Monthly Trade Deficit

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Imports increased $1.8 billion in August 2021 compared
with August 2020, resulting in a record monthly trade
deficit of $2.1 billion, Stats NZ said today.

Exports
were little changed, down $42 million.

“This is a
larger deficit than normal because of higher values for
imports, particularly vehicles, continuing the trend
observed over the last few months. August is also the month
when we typically see lower values for dairy exports,”
international trade manager Alasdair Allen
said.

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