New Zealand Trade Surplus Beats Expectations



New Zealand posted a NZD 263 million trade surplus in April 2018, compared with a NZD 547 million surplus in the same month of the previous year and market expectations of a NZD 200 million surplus.

Exports rose 7.3 percent from the previous year to NZD 5054 billion, compared to a 4.5 percent climb in the previous month. Faster growth against March was mainly explained by meat and edible offal (+15.0 percent vs +2.1 percent). Sales of fruit jumped 50.6 percent, with kiwi sales jumping 9 percent. In contrast, logs, wood, and wood articles lost steam (+2.2 percent vs 17.9 percent). Among major export partners, sales in China rebounded sharply after contracting in the previous month (+21.5 vs -4.3 percent). Exports to the European Union gained steam (+24.7 percent vs +4.9 percent). Sales to Australia and the United States declined 4.0 percent (vs +11.2 percent) and 2.2 percent (vs +5.8 percent) respectively.

Imports jumped 15.1 percent year-on-year to NZD 4791 billion in April of 2018, compared to an upwardly revised 14.4 percent climb in the previous month. The jump was mainly explained by a 113.6 percent surge in aircraft and parts and faster growth in vehicles, parts & accessories (24.5 percent vs 7.4 percent). In contrast, sales of oil & products lost steam (+55.6 percent vs +88.0 percent). Among top import partners, purchases rose sharply from Japan (+47.0 percent vs -8.8 percent). In contrast, imports from China edged down 0.3 percent. 

New Zealand Trade Surplus Beats Expectations


Mario | mario@tradingeconomics.com
5/24/2018 10:53:45 AM