New Zealand's trade deficit increased to NZ$157 million

New Zealand’s trade deficit increased to NZ$157 million

According to official data released today, New Zealand's April trade deficit expanded as the value of exports was lower than earlier estimates. Statistics New Zealand said country's trade deficit increased to NZ$157 million (approx. $99 million) from a preliminary estimate of NZ$134 million released last month. Exports were recorded as NZ$2.69 billion in April. This figure was 3.7% lower than the March earnings, but 7.7% higher than April 2003 figure. Exports increased by 7% during the last nine moths, despite the appreciation of exchange rate which impacts the export prices negatively. Imports amounted to NZ$2.84 billion in April against NZ$2.77 billion in March and NZ$2.52 billion in April 2003.