February Exports Rise Thanks to Chinese Dairy Shipments27 March 2013
NEW ZEALAND - The trend for a February trade surplus has continued with dairy exports to China underpinning sales rise.
The value of exported goods rose $290 million (8.0 per cent) to $3.9 billion in February 2013, compared with February 2012, Statistics New Zealand said today. This was led by an increase in exports to China, up $259 million (49 per cent).
"Milk powder, pine logs, and sheep meat led the rise in exports to China," industry and labour statistics manager Louise Holmes-Oliver said. "China drove the overall rise in exports."
The value of imported goods rose $86 million (2.5 per cent) to $3.5 billion. Consumption goods led the rise, up $90 million, while capital goods fell $29 million, and intermediate goods fell $15 million.
The trade balance for February 2013 was a surplus of $414 million (11 per cent of exports). February months have been in surplus since 2007.
After removing seasonal effects, exports increased 16 per cent in February 2013, compared with January 2013. Milk powder, butter, and cheese led this increase. Seasonally adjusted imports rose 3.9 per cent in February 2013.
The trend for exports is 0.7 per cent lower than its highest-ever peak, of November 2011. The trend for imports has shown little change in recent months. Overseas merchandise trade statistics remain provisional for the first three months after data is first released.
TheCattleSite News Desk