Year-on-year, total goods exports fell NZD 214 million to NZD 4.4 billion. The fall in milk powder, butter, and cheese exports (-28 percent) was led by whole milk powder, down 37 percent, with quantities down 6.9 percent. Whole milk powder export values to China have been low this year compared with last year, but values to other countries have remained fairly stable. Fruit exports rose NZD 107 million to NZD 445 million, the highest monthly value ever. Kiwifruit rose NZD 76 million, and apples rose NZD 33 million.
Imports declined NZD 300 million to NZD 4.0 billion compared to May 2014. Intermediate goods fell NZD 259 million, led by crude oil, and capital goods fell NZD 80 million. Consumption goods rose NZD 4.8 million.
For the year ended May 2015, the annual goods trade deficit was NZD 2.6 billion.