MIL-OSI Submissions: Surge in imports results in record monthly trade deficit – Stats NZ media and information release: Overseas merchandise trade: August 2021

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Surge in imports results in record monthly trade deficit – Media release

24 September 2021

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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