NZ trade surplus $11m in January
A trade balance of $11 million was recorded in January, as exports rose 4.3 percent from a year earlier and imports rose 14 percent -- both to $3.3 billion.
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A trade balance of $11 million was recorded in January, as exports rose 4.3 percent from a year earlier and imports rose 14 percent -- both to $3.3 billion.
It was the second consecutive surplus for a January month -- amounting to 0.3 percent of exports -- following eight January deficits, Statistics New Zealand (SNZ) said today.
The annual trade balance for the year ended January was a surplus of $865m million, or 2 percent of exports. It was the first surplus for the year ended January since 2002.
Milk powder, butter, and cheese exports rose $93m or 9.8 percent from a year earlier, dominated by a rise in unsweetened whole milk powder with higher quantities and prices, with unsalted butter also significant, SNZ said.
Meat and edible offal exports were up $30m or 6.9 percent from a year earlier, led by frozen beef and sheep cuts, excluding lamb, partly offset by a fall in fresh and frozen lamb cuts.
Fish, crustaceans, and molluscs exports were up $22m or 30 percent across a range of species.
Crude oil exports recorded the largest decrease, down $26m or 13 percent due to lower quantities.
The intermediate goods category had the largest increase in imports, up $235m or 17 percent, led by a rise in processed industrial supplies, followed by a rise in parts and accessories. That increase was partly offset by a fall in fuels and lubricants.
Capital goods imports rose $77m or 17 percent, mostly due to a $67m or 17 percent increase in plant and machinery. Leading that rise were increases in power generating machinery, and general industrial machinery and apparatus.
Imports in the petrol and avgas category rose $50m or 42 percent due to an increase in the value of motor spirit imported, SNZ said.
Consumption goods imports were up $40m or 5.4 percent, the eighth consecutive monthly increase compared with the same month of the previous year.
On a seasonally adjusted basis, exports were 5.9 percent higher in January than in December, while imports fell 1.8 percent.
The trend for export values was up 21 percent since the most recent low point in October 2009. The trend for imports was up 18 percent since the most recent low point in September 2009, but was still 12 percent below the September 2008 peak.
NZPA
Mon, 28 Feb 2011
Mon, 28 Feb 2011
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NZ trade surplus $11m in January
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