Statistics New Zealand reported on Thursday that the country’s trade balance recorded a deficit of NZD353 million in August compared to an upwardly revised NZD447 million surplus in the previous month (originally a NZD282 million surplus) and a NZD1.642 billion gap in the same month of the previous year.

According to the report, goods exports rose 8.6 percent y-o-y to NZD4.4 billion last month, with the increase being led by higher sales of aircraft and parts (+785 percent y-o-y) and kiwifruit (+48 percent y-o-y). Meanwhile, goods imports tumbled 16 percent y-o-y to NZD4.8 billion last month. Vehicles and parts (-37 percent y-o-y) led the decline in import values. Decreases were also recorded in petroleum and products (- 36 percent y-o-y) and mechanical machinery and equipment (-14 percent y-o-y).