New Zealand logs its first trade deficit in six months

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New Zealand has just released trade figures for June, and they’ve come in mixed.

Over the month, exports grew to $4.23 billion, above expectations for a decrease to $4.09 billion but below the $4.36 billion figure of May.

Exports jumped to $4.29 billion, well above the $3.95 billion level expected and $4.01 billion figure of May.

With imports slightly overshadowing exports, the nation recorded a trade deficit of $60 million, the first since December 2014. Markets had been expecting a surplus of $100 million.

On a rolling 12-month basis, the trade deficit jumped to $2.85 billion, the highest level seen since June 2009.

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