New Zealand Trade Deficit Narrows Slightly

New Zealand trade gap decreased to NZD 1.2 billion in September of 2015, compared to a NZD 1.3 billion deficit a year earlier, mainly due to a fall in aircraft imports.

Imports fell 1.3 percent to NZD 4.9 billion. Capital goods dropped 17 percent, with transport equipment down 55 percent, led by a reduction in aircraft imports. The fall in capital goods was partly offset by a rise in machinery and plant equipment, up 15 percent, led by mobile phones. Consumption goods rose 18 percent, led by non-durable goods (such as cigarettes), up 20 percent and semi-durable goods (such as video games), up 16 percent. Intermediate goods rose 7.3 percent, led by processed industrial supplies (including fertilisers), up 15 percent.

Purchases from China topped NZD 1 billion for the first time in September, up 22 percent year-on-year. Total monthly imports, excluding large import items, were the highest-ever in September 2015, up 8.1 percent.

Exports rose 2.0 percent year-on-year to NZD 3.7 billion in September, led by beef. Meat and edible offal increased 33 percent, led by frozen beef (up  69 percent). The rise in total meat exports was due to higher prices, with the quantity up 20 percent. Milk powder, butter, and cheese fell 22 percent. The quantity exported in September 2015 was down 6.7 percent, compared with September 2014.

Considering the third quarter of 2015, exports rose 6.4 percent compared to the previous period led by milk powder, butter, and cheese (up 9.8 percent). Imports went up 9.2 percent, led by aircraft.

New Zealand Trade Deficit Narrows Slightly

Statistics New Zealand | Joana Taborda |
10/26/2015 10:10:46 PM