New Zealand Posts Trade Surplus in November

In November of 2013, New Zealand trade balance turned into a NZD 183 million surplus. This is the first trade surplus for a November month since 1991 and follows a trade deficit in October 2013, which was the lowest deficit for an October month since the mid-1990s. For the first time, China has surpassed Australia as New Zealand’s top goods export destination on an annual basis.

In November 2013, goods exports were valued at NZD 4.5 billion, up by 17 percent from November of 2012. Exports to China hit record levels in October 2013 and November 2013. Exports to China were valued at NZD 1.2 billion.

Dairy contributed the most (63 percent) to the total exports to China, valued at NZD 774 million, in November 2013. This is the highest value of dairy exports to China for any month. Total dairy exports were valued at NZD 1.7 billion – also the highest for any month.

The value of imported goods was NZD 4.3 billion, down by 2.8 percent from November 2012. A fall in intermediate goods, due to crude oil, affected this movement. Consumption goods also fell, while capital goods rose.

New Zealand Posts Trade Surplus in November

Statistics New Zealand | Joana Taborda |
12/19/2013 10:06:28 AM