New Zealand recorded its smallest annual trade deficit since July 2002 in January, reflecting weaker-than-expected imports outpacing a decline in exports.
For the month of January, merchandise trade recorded a surplus of $269 million, the first in eight months.
The deficit was $178 million in the 12 months ended January 31, from a revised deficit of $549 million in the year through December, according to Statistics New Zealand.
An annual trade gap of $509 million had been expected, according to a Reuters survey.
New Zealand’s trade deficit shrank from$5.4 billion in the 12 months through January 2009, when the economy was in the depths of recession, and hasn’t previously been below $1 billion for …
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Tags: economy, new zealand, Trade
