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MNI BRIEF: NZ Trade Deficit Doubles In 2022

MNI (PERTH)
(MNI) Perth

New Zealand's trade deficit narrowed month-on-month in December but it did little to help the full year 2022 trade deficit more than double from the previous year.

Goods exports rose 11% y/y to NZD6.7 billion in December, while imports rose 1.8% y/y to NZD7.2 billion, according to StatsNZ. The monthly trade balance was a deficit of NZD475 million. The annual trade deficit was NZD14.5 billion in 2022, up from NZD7.1 billion in 2021.

Robert covers RBA and RBNZ policy and the economy for MNI in Australia.
Robert covers RBA and RBNZ policy and the economy for MNI in Australia.

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