China Becomes New Zealand’s Top Export Partner in 2013
In December of 2013, New Zealand trade balance turned into a NZD 523 million surplus for the second straight monht. For the December 2013 year, there was a trade deficit of NZD 259 million (0.5 percent of exports), up from an average deficit of 2.5 percent of exports over the previous five December years. China became the country’s top export destination for the first time, due to exports of milk powder.
In December of 2013, goods exports were valued at NZD 4.8 billion, up by 16 percent from December 2012. This is the third consecutive month of record high exports, led by exports to China. The value of exports to China has been at a record high every month since October of 2013.
Imported goods were valued at NZD 4.2 billion, up by 19 percent yoy.
Considering the December 2013 year, goods exported were valued at NZD 48.1 billion, up by 4.4 percent from the December 2012 year. The value of goods imported was NZD 48.3 billion (up by 2.4 percent).
Milk powder, butter, and cheese exports were valued at NZD 13.4 billion, showing a 17 percent increase over a year earlier. This was led by milk powder, with values up 27 percent (to NZD 8.7 billion), and quantities up 2.0 percent.
Exports to China were valued at NZD 10.0 billion, (up by 45 percent), led by milk powder. In the year ended December 2013, 46 percent of milk powder exports went to China. Shipments to Australia were led by crude oil and declined 7.8 percent on the year.
1/30/2014 10:04:58 PM