New Zealand Posts 4th Straight Trade Surplus
New Zealand trade balance recorded a NZD 292 million trade surplus in April of 2016, higher than a NZD 184 million surplus a year earlier and above market expectations of NZD 60 million. Exports went up 4 percent year-on-year as fruits offset a fall in dairy sales and imports increased at a slower 1.5 percent.
5/25/2016 12:17:48 AM
Exports increased to NZD 4300 million, led by a 16 percent jump in fruit sales, mainly gold kiwifruit (up 53 percent) and apples (up 29 percent). Shipments of logs, wood, and wood articles rose 14 percent, mainly untreated logs (up 12 percent). In contrast, sales of milk powder, butter, and cheese (the largest export commodity group) fell 6.7 percent, led by milk fats (down 17 percent) and milk powder (down 2.9 percent).
Among export partners, shipments to China increased 11 percent; exports to Australia went up 5.6 percent; those to the United States grew 8.1 percent; sales to the European Union increased 13 percent and those to Japan edged up 0.3 percent.
Imports increased to NZD 4008 million, led by consumption goods (up 14 percent): semi-durable goods such as clothing and plastics were up 20 percent; non-durable goods such as tobacco and retail medicines also went up 20 percent and durable goods such as furniture and electrical machinery grew 16 percent. Purchases of intermediate goods increased 2.9 percent while those of capital goods fell 10 percent, mainly due to transport equipment (down 39 percent).
Imports from China (up 11 percent), the European Union (up 3.6 percent) and Australia (up 13 percent) increased while those from the United States (down 8.5 percent) and Japan (down 3.8 percent) shrank.