New Zealand Posts Trade Surplus in February


The value of exported goods rose $290 million (8.0 percent) to $3.9 billion in February 2013, compared with February 2012, according to a release from Statistics New Zealand. This was led by an increase in exports to China, up $259 million (49 percent).

The trade balance for February 2013 was a surplus of $414 million (11 percent of exports). February months have been in surplus since 2007. China drove the overall rise in exports. Milk powder, pine logs, and sheep meat led the rise in exports to China.

The value of imported goods rose $86 million (2.5 percent) to $3.5 billion. Consumption goods led the rise, up $90 million, while capital goods fell $29 million, and intermediate goods fell $15 million.
 
After removing seasonal effects, exports increased 16 percent in February 2013, compared with January 2013. Milk powder, butter, and cheese led this increase. Seasonally adjusted imports rose 3.9 percent in February 2013.
 
The trend for exports is 0.7 percent lower than its highest-ever peak, of November 2011. The trend for imports has shown little change in recent months.

Statistics NZ | Nuno Fontes | nuno@tradingeconomics.com
3/26/2013 8:44:13 AM