• New Zealand trade balance deficit declined more than expected m/m

Market news

27 November 2018

New Zealand trade balance deficit declined more than expected m/m

October 2018 monthly values are actual and compared with October 2017.

  • Goods exports rose $303 million (6.6 percent) to $4.9 billion.

  • Goods imports rose $758 million (14 percent) to $6.2 billion. This is the highest imports value ever.

  • The monthly trade balance was a deficit of $1.3 billion (27 percent of exports).

Fruit led the export rise, up $118 million (137 percent) to $204 million. Kiwifruit was up sharply in both value (up $112 million to reach $165 million) and quantity (190 percent) due to October typically being a low month for kiwifruit exports:

  • green kiwifruit was up $71 million

  • gold kiwifruit up $41 million.

Meat and edible offal rose $74 million (20 percent) to $450 million; quantity was up 12 percent.

Petroleum and products (other than crude) rose $50 million (43 percent) to $72 million; quantity was up 72 percent.

Milk powder, butter, and cheese fell $43 million (3.3 percent) to 1.2 billion. Quantity fell 6.3 percent. Milk powder led this fall (down $45 million or 6.8 percent). Quantity was down 12 percent.


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