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.
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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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