Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Exports fall, led by falling dairy values

Exports fall, led by falling dairy values – Media release

The value of exported goods fell $423 million (11 percent) to $3.5 billion in October 2012, compared with October 2011, Statistics New Zealand said today.

"Almost half of the fall in export values was due to the falling value of dairy," industry and labour statistics manager Louise Holmes-Oliver said. "This was despite an increase in dairy quantities."

The value of imports rose $70 million (1.7 percent). Contributors to this rise were capital goods, up $94 million, and consumption goods, up $64 million, while intermediate goods fell $83 million.

The trade balance for October 2012 was a deficit of $718 million (21 percent of exports). This compares with a deficit of $226 million (5.8 percent of exports) in October 2011.

Seasonally adjusted exports fell 14 percent compared with September 2012. There was a large fall in milk powder, butter, and cheese exports, following two large decreases in August and September. Seasonally adjusted imports fell 8.0 percent in October 2012.

The trend for exports remains at a high level, but is 6.3 percent lower than its peak of November 2011. The trend for imports has shown little change in recent months, and is now 7.0 percent lower than its record high of September 2008.

ENDS

http://img.scoop.co.nz/media/pdfs/1211/OverseasMerchandiseTradeOct12.pdf
http://img.scoop.co.nz/media/pdfs/1211/omtoct12tables.xls
• Visit Overseas Merchandise Trade: October 2012

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news