New Zealand Trade Surplus Narrows in June

New Zealand trade surplus narrowed slightly for the third straight month to NZD 247 million in June of 2014 from a revised NZD 270 million in May.

Goods exports were up 4.8 percent to $4.2 billion when compared with June 2013, led by whole milk powder. Goods imports rose 8.7 percent to $3.9 billion.

In the June quarter, the seasonally adjusted value of goods exported fell 7.4 percent to $12.4 billion. This follows a 0.9 percent increase in the March 2014 quarter, and large increases for the September 2013 and December 2013 quarters. Milk powder, butter, and cheese led the fall in exports, down 8.1 percent ($335 million), although quantities were only down 1.4 percent. Logs, meat, and fruit also had falls in both values and quantities, however values and quantities fell in similar proportions.

Seasonally adjusted imports increased 0.5 percent ($66 million), led by intermediate goods. There was a trade deficit in the June quarter of $146 million, equivalent to 1.2 percent of exports.

New Zealand Trade Surplus Narrows in June

Statistics New Zealand | Joana Taborda |
7/24/2014 12:06:32 AM