New Zealand Trade Surplus Widens in May


New Zealand posted a NZD 294 million trade surplus in May 2018, compared with a NZD 62 million surplus in the same month of the previous year and market expectations of a NZD 100 million surplus. Exports rose 10.4 percent from the previous year to NZD 5415 billion and imports jumped 5.7 percent to NZD 5121 billion.

Exports rose 10.4 percent from the previous year to NZD 5415 billion in May of 2018 compared to a downwardly revised 5.3 percent climb in the previous month. It was the second highest growth rate in five months. Faster growth against April was mainly explained by meat and edible offal (+17.2 percent vs +15.0 percent) and logs, wood & wood articles lost steam (+26.1 percent vs +2.2 percent). Among major export partners, sales in China rose further (+27.3 vs +21.5 percent). In contrast, exports to the European Union lost steam (+16.7 percent vs +24.7 percent). Meantime, sales to Australia rebounded (+12.3 percent vs -4.0 percent), while exports to the United States declined 0.6 percent after a 2.2 percent slip.

Imports climbed 5.7 percent year-on-year to NZD 5121 billion in May of 2018, compared to a downwardly revised 14.5 percent jump in the previous month. Slower growth was mainly explained by aircrafts and parts (+40.0 percent vs +113.6 percent in April) and a plunge in oil & products (-30.1 percent vs +55.6 percent). In contrast, the growth clip of vehicles, parts & accessories edged up (+25.1 percent vs +24.5 percent). Among top import partners, purchases rose at a slower rate from Japan (+18.8 percent vs +47.0 percent). In contrast, imports from China rebounded 11.0 percent after edging down 0.3 percent.

New Zealand Trade Surplus Widens in May


Mario | mario@tradingeconomics.com
6/26/2018 11:41:57 PM