New Zealand trade deficit rises sharply

China Daily (Canada) - - BUSINESS -

New Zealand’s trade deficit in the year to the end ofMarch rose to its high­est fig­ure in al­most seven years on the back of plung­ing dairy prices, the gov­ern­ment statistics agency said onWed­nes­day. The an­nual deficit hit 3.8 bil­lion NZ dol­lars ($2.62 bil­lion), the largest since April 2009, ac­cord­ing to Statistics New Zealand. “The large an­nual trade deficit is a re­sult of falls in the value of pri­mary pro­duce ex­ports,” se­nior man­ager Ni­cola Grow­den said in a state­ment.

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