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Small Trade Surplus for April 2003

Small Trade Surplus for April 2003

The updated merchandise export value for April 2003 is $2,508 million, according to Statistics New Zealand. This is $2 million lower than the early estimate published on 27 May 2003. The provisional value of merchandise imports for April 2003 is $2,493 million, resulting in a trade surplus of $16 million. Trade surpluses are normal for an April month; however, the April 2003 surplus is smaller than usual. Latest trend figures indicate that the decline in the merchandise exports trend has slowed, while the imports trend continues to decline.

The provisional merchandise export value for April 2003 was 9.5 percent lower than the value recorded for April 2002. Contributors to the lower export value include a higher exchange rate and lower quantities for dairy products, wood, fish, crustaceans and molluscs. According to the trade weighted index, the New Zealand dollar was 13.8 percent higher in April 2003 than April 2002.

For the year ended April 2003, the updated merchandise exports value is $29,994 million, down 8.2 percent from the April 2002 year. The updated annual trade balance is a deficit of $1,900 million for the year ended April 2003. The previous April year showed a surplus of $520 million.

Brian Pink

Government Statistician

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