NZ posts eighth monthly trade surplus in June

Exports and imports Year ended June (Source: NZ Stats)

New Zealand posted its eighth monthly trade surplus in June, led by overseas demand for the nation's primary products such as milk powder, frozen beef and kiwifruit.

The country had a trade surplus of $247 million in June, from a revised $270 million in May and $371 million a year earlier. The annual trade balance turned to a surplus of $1.2 billion from a deficit of $819 million a year earlier. The figures beat expectations for a monthly surplus of $150 million and an annual surplus of $1.15 billion in a Reuters poll of economists.

Demand for New Zealand's primary products saw exports rise 4.8 percent to $4.2 billion in June from the year earlier month, compared with expectations of $4.28 billion in the Reuters poll.

Milk powder, butter and cheese led the export growth, up 34 percent, followed by an 11 percent gain in meat and edible offal exporters, a 49 percent rise in casein and caseinates and a 14 percent increase in fruit exports.

Exports to China fell 1.5 percent to $691 million in June, led softer demand for pine logs and food preparations but offset by a rise in milk powder.

Australia was New Zealand's biggest export destination in June, even as the value of goods slid 5.1 percent to $740 million as the value of crude oil exports dropped.

Meanwhile, the value of exports to the US, New Zealand's third-largest export destination, surged 22 percent to $452 million led by demand for frozen beef.

Imports into New Zealand rose 8.7 percent in June to $3.947 billion, compared with $4.1 billion expected in the Reuters poll.

Imports were driven higher by aircraft, vehicles, food residues and inorganic chemicals.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot


Sym Price Change
USD 0.6436 0.0000 0.00%
AUD 0.9129 0.0000 0.00%
EUR 0.5741 0.0000 0.00%
GBP 0.4243 0.0000 0.00%
HKD 4.9945 0.0000 0.00%
JPY 77.1520 0.0000 0.00%


Commodity Price Change Time
Gold Index 1136.7 25.250 2015-10-02T00:
Oil Brent 48.8 0.950 2015-10-02T00:
Oil Nymex 46.0 0.800 2015-10-02T00:
Silver Index 15.3 0.752 2015-10-02T00:


Symbol Open High Last %
NZX 50 5585.4 5600.6 5585.4 0.14%
NASDAQ 4566.1 4707.8 4627.1 1.74%
DAX 9606.6 9667.5 9509.2 0.46%
DJI 16258.2 16472.8 16272.0 1.23%
FTSE 6072.5 6176.2 6072.5 0.95%
HKSE 21172.9 21530.8 20846.3 3.17%
NI225 17564.4 17775.8 17722.4 0.02%