New Zealand Posts Trade Surplus in April
In April of 2013, the trade surplus narrowed to $157 million, the lowest trade surplus in the previous four April months. Imports grew at a faster pace than exports, boosted by higher petroleum imports.
5/24/2013 12:37:14 AM
Exported goods rose $83 million (2.2 percent) to $4.0 billion. Meat and edible offal led the rise, followed by petroleum and products. Milk powder, butter, and cheese (the largest export commodity group) rose $19 million (2.2 percent).
More goods were exported to Australia than to China in April 2013, even though exports to China rose while exports to Australia fell.
The value of imported goods rose $263 million (7.4 percent) to $3.8 billion in April 2013, compared with April 2012.
For the three main economic categories, the value of intermediate goods rose while capital goods and consumption goods fell.
Petroleum and products led the increase in imports, up $235 million, due to crude oil and diesel. Vehicles, parts, and accessories recorded the second-largest increase, up $68 million.
Imports from China fell $1.8 million (0.3 percent), and imports from Australia fell $11 million (2.1 percent).
The trade balance for April 2013 was a surplus of $157 million (4.0 percent of exports). April months have been in surplus since 2009.
After removing seasonal effects, exports decreased 8.6 percent in April 2013, compared with March 2013. Crude oil (which is not seasonally adjusted) led this decrease. Seasonally adjusted imports rose 1.5 percent in April 2013.