Surging oil prices and car import rebound create first March trade deficit in decade
Vehicle and machinery imports continue to show strong growth, while butter boosts dairy exports.
The surge in oil prices has hit the trade balance, underlying a potential threat to the economy as world supplies are constrained by the Opec-Russia production limits.
The world benchmark, Brent crude, is now above $US74 a barrel, its highest in more than three years.
The sharp rise in fuel
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Nevil Gibson
Fri, 27 Apr 2018
Fri, 27 Apr 2018
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Surging oil prices and car import rebound create first March trade deficit in decade
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