The trade balance for February of 2014 was a surplus of $818 million. This is the highest-ever trade surplus for any February month and compares with a surplus of $432 million in February 2013. The rise in dairy exports was supported by logs and meat, with much of the increase in these commodities destined for China.
The value of exported goods rose $663 million (17 percent) to $4.6 billion in February 2014, compared with February 2013.
Exports of primary products led the rise in total goods exports, including rises for milk powder, logs, and sheepmeat exports. Goods exports to China rose $388 million (49 percent), which was driven by primary products, up $398 million in February 2014.
The value of imported goods rose $277 million (8.0 percent) to $3.7 billion. The main contributors to the increase were intermediate goods (up $148 million) and capital goods (up $135 million).
3/26/2014 10:40:05 PM