New Zealand Trade Deficit Widens in September


For the September 2011 month, export values increased $268 million (8.4 percent) compared with September 2010, while imports increased $564 million (16 percent). The trade balance for the September 2011 month was a deficit of $751 million (22 percent of exports). This compares with an average deficit of 23 percent of exports for the previous five September months.

The seasonally adjusted value of exported goods decreased 3.0 percent in the September 2011 quarter, Statistics New Zealand said today. Falls in the values of meat, dairy products, and logs accounted for most of the decrease, though the quantities of these commodities were similar to the June 2011 quarter.

The trend for goods exported, which reflects the long-term behaviour in export values, remains near its highest ever level, which was reached in the previous quarter.

The seasonally adjusted value of imported goods decreased 3.2 percent in the September 2011 quarter, led by intermediate goods (transport equipment parts and accessories, and automotive diesel).

The trend for imported goods is still below its overall peak in the September 2008 quarter.

The seasonally adjusted trade balance for the September 2011 quarter was a surplus of $340 million, equivalent to 2.9 percent of exports.


TradingEconomics.com, Statistics New Zealand
10/27/2011 11:35:10 AM