New Zealand Trade Surplus Widens In April


New Zealand trade surplus widened to NZD 578 million in April of 2017 compared to NZD 350 million in the same month of the previous year and expectations of a NZD 267 million surplus. It was the second straight monthly surplus after 8 consecutive deficits. Exports advanced to NZD 4750 million (or 9.8 percent year-on-year from a downwardly revised 9.6 percent in March), while imports jumped to NZD 4172 million (or 4.9 percent compared to an upwardly revised 7.9 percent). The annual trade deficit for the year ended April 2017 was NZD 3.48 billion, compared with a NZD 3.71 billion gap in the year ended March 2017.

The 9.8 percent year-on-year jump in exports was mainly explained by a 35.4 percent surge in exports of milk powder, butter & cheese (compared to 29.0 percent in the previous month). Logs, wood & wood articles climbed 17.7 percent after advancing 10.1 percent in March. Exports to China increased at a softer pace of 22.5 percent in April after surging 43.5 percent in the previous month. Shipments to Japan also grew at a softer rate, increasing by 12.7 percent (versus 18.8 percent). Contrastingly, exports to Korea advanced at a faster pace of 15.4 percent (compared to 6.2 percent), while shipments fell to the European Union (-7.8 percent), the United States (-5.3 percent), and Australia (-0.6).

Meanwhile, the 4.9 percent year-on-year climb in imports was mainly triggered by a 21.2 percent surge in petroleum & products, following a 6.2 percent contraction in the previous month. Imports of vehicles, parts, and accessories expanded at a softer pace of 8.1 percent (compared to 28.1 percent in March). Imports from Japan rose at a weaker rate of 3.5 percent after surging 28.8 percent in the previous month. Imports from the United States declined 4.5 percent after climbing 11.1 percent in March. 

New Zealand Trade Surplus Widens In April


Mario | mario@tradingeconomics.com
5/23/2017 11:13:29 PM