New Zealand Trade Surplus Narrows in March


New Zealand trade surplus decreased to NZD 117 million in March of 2016 compared to a NZD 661 million surplus a year earlier and below market expectations of NZD 476 million surplus. Exports fell 14 percent on the year, due to the lower sales of milk powder, butter and cheese while imports went down at a slower 3.7 percent mainly due to purchases of capital goods.

Goods exports went down by NZD 701 million (-14.3 percent) to NZD 4.2 billion. Milk powder (-42 percent), butter(-22 percent), and cheese (-11 percent) led fall in exports, followed by ships, boats and floating structures (-98 percent), meat and edible offal (-21 percent) and casein and caseinates (-45 percent). In contrast, fruit sales rose 44 percent, driven by gold kiwifruit and royal apples, logs, wood and wood articles increased 11 percent and preparations of cereals, flour and starch grew 46 percent. 

Imports decreased NZD 157 million (-3.7 percent) to NZD 4.1 billion. Capital goods led the fall, down NZD 151 million (-16 percent), with the largest decrease being transport equipment (such as aircraft, buses and goods vehicles). Intermediate goods dropped NZD 50 million (-2.8 percent), due to decline in crude oil. Meantime, consumption goods rose NZD 38 million (+3.7 percent), driven by food and beverages for household consumption (up NZD 31 million), and non-durable consumer goods (such as essential oils and cosmetics, tobacco, and retail medicines) up NZD 23 million, but offset by a fall in semi-durable goods (such as textiles and clothing), down NZD 25 million. 

New Zealand Trade Surplus Narrows in March


Statistics New Zealand | Yekaterina Guchshina | yekaterina@tradingeconomics.com
4/27/2016 12:33:37 AM