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Exports to China rise

Exports to China rise – Media release

26 March 2013

The value of exported goods rose $290 million (8.0 percent) to $3.9 billion in February 2013, compared with February 2012, Statistics New Zealand said today. This was led by an increase in exports to China, up $259 million (49 percent).

"Milk powder, pine logs, and sheep meat led the rise in exports to China," industry and labour statistics manager Louise Holmes-Oliver said. "China drove the overall rise in exports."

The value of imported goods rose $86 million (2.5 percent) to $3.5 billion. Consumption goods led the rise, up $90 million, while capital goods fell $29 million, and intermediate goods fell $15 million.

The trade balance for February 2013 was a surplus of $414 million (11 percent of exports). February months have been in surplus since 2007.

After removing seasonal effects, exports increased 16 percent in February 2013, compared with January 2013. Milk powder, butter, and cheese led this increase. Seasonally adjusted imports rose 3.9 percent in February 2013.

The trend for exports is 0.7 percent lower than its highest-ever peak, of November 2011. The trend for imports has shown little change in recent months. 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.

ENDS

For more information about these statistics:
• Visit Overseas Merchandise Trade: February 2013

• Open the attached files

http://img.scoop.co.nz/media/pdfs/1303/OverseasMerchandiseTradeFeb13.pdf

http://img.scoop.co.nz/media/pdfs/1303/omtfeb13tables.xls

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