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

 


Exports fall despite large increase to China


Exports fall despite large increase to China – Media release

The value of exported goods fell $94 million (2.4 percent) to $3.8 billion in November 2012, compared with November 2011, Statistics New Zealand said today.

“Despite a 60 percent increase in exports to China, decreases for other countries resulted in total exports falling, compared with November 2011,” industry and labour statistics manager Louise Holmes-Oliver said.

The value of imported goods has been flat at $4.5 billion for the month. Without one-off capital imports in November 2011, merchandise imports would have risen 5.9 percent – this would have been the largest increase since July 2012.

The trade balance for the November 2012 month was a trade deficit of $700 million (18 percent of exports). November month trade balances are typically deficits, and the current month compares with an average deficit of 13 percent of exports over the previous five November months.

Seasonally adjusted exports increased 8.9 percent in November 2012, compared with October 2012. Milk powder, butter, and cheese led this increase. Seasonally adjusted imports rose 11 percent in November 2012.

The trend for exports appears to have been declining in recent months, and is 7.3 percent lower than its highest-ever peak of November 2011. The trend for imports has shown little change in recent months, and is 4.8 percent lower than its record high of September 2008.

Overseas merchandise trade statistics remain provisional for the first three months after data is first released. For more information, see Why overseas merchandise trade data can change on the Statistics NZ website.

Authorised by:
Colin Lynch
Acting Government Statistician

Published 10 January 2013

For more information about these statistics:
• Visit Overseas Merchandise Trade: November 2012
• Open the attached files

Information release (PDF) Tables (Excel) Copy of this media release (PDF)

(See attached file: OverseasMerchandiseTradeNov12.pdf)(See attached file: omt-Nov12-tables.xls)(See attached file: OverseasMerchandiseTradeNov12MR.pdf)

OverseasMerchandiseTradeNov12MR.pdf

omtNov12tables.xls

OverseasMerchandiseTradeNov12.pdf

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Not Enough Rain: Drought Impacts Business And Will Affect GDP

Businesses which rely on trade in parts of the country which are experiencing drought conditions are very concerned about the extreme weather. More>>

ALSO:

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news