The value of goods exported in July 2011 increased $166 million compared with July 2010, to reach $3.7 billion. The increase was led by milk powder, butter, and cheese exports, and crude oil.
The value of goods imported in July 2011 decreased $149 million compared with July 2010, to $3.6 billion, led by a fall in petroleum and products. Regular petrol and automotive diesel were down, and crude oil import quantities, which tend to be irregular, were significantly lower in July 2011.
The trend in the value of exports has increased 30 percent since its most recent low point in October 2009, and continues to reach new highs. The trend for import values is up 20 percent since the most recent low point in September 2009, but is still 9.9 percent below its overall peak in September 2008.