Total goods exports fell 5.5 percent to NZD 4.2 billion in April 2015 compared with April 2014. Milk powder, butter, and cheese exports led the fall, down 27 percent, due to lower quantities for whole milk powder and lower prices overall. However, the quantity of dairy products exported rose 1.2 percent overall, led by whey, cheese, and butter. This offset the fall in whole milk powder quantity. Other significant commodity group changes were fruit exports, up $62 million, and crude oil exports, down $63 million from April 2014.
Imports rose 2.6 percent to NZD 4.0 billion. Capital goods rose NZD 199 million, led by transport equipment (aircraft and parts). Consumption goods rose NZD 54 million, led by food and beverages.
For the year ended April 2015, the annual trade deficit was NZD 2.6 billion. This is the largest annual trade deficit since the year ended June 2009 (NZD 3.1 billion).