New Zealand Trade Gap Widens in November


New Zealand trade deficit increased to NZD 779 million in November of 2015, compared to a NZD 283 million gap a year earlier, as exports rose 1.0 percent, led by meat and edible offal, while imports went up at a faster 12 percent, driven by capital goods.

Total goods exports grew to NZD 4.1 billion, up 1.0 percent from November 2014. Meat and edible offal led the rise, up NZD 93 million (+23 percent) and fruits increased NZD 23 million (+65 percent), boosted by kiwifruit. By contrast, the largest export commodity group - milk powder, butter and cheese fell NZD 41 million (-3.3 percent).

Goods exports to China rose NZD 117 million (+17 percent), led by milk powder, and butter. Meantime, exports to Australia fell NZD 31 million (-4.1 percent), driven by crude oil which fell NZD 37 million. 

Imports increased by 12 percent to NZD 4.9 billion, led by growth in capital and consumption goods. Capital goods rose NZD 375 million (+42 percent), driven by transport equipment (aircraft and other vehicles) and machinery and plant. Consumption goods rose  NZD 213 million (+19 percent), led by non-durable goods (such as cigarettes, medicinal and pharmaceutical products) and semi-durable goods (clothing anf footwear).

The main trading partners were: China (+17 percent year-on-year), led by clothing and mobile phones; EU (+15 percent), driven by passenger motor vehicles and fertilisers and United States (+70 percent), led by aircraft and aircraft parts, yachts and motor vehicles.

So far this year, New Zealand trade deficit was recorded at NZD 3.7 billion.

New Zealand Trade Gap Widens in November


Statistics New Zealand | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/22/2015 10:44:42 PM