High level of goods traded in September quarter
High level of goods traded in September quarter – Media release
24 October 2013
Exports rose 9.4 percent in the September 2013 quarter, after adjusting for seasonal effects, and imports rose 8.4 percent, Statistics New Zealand said today.
Exports rose to $12.1 billion and the trend reached near-record levels, while imports rose to $12.7 billion, and the trend reached a new high.
“Dairy led the rise in exports in the September quarter, after we adjusted for seasonality,” overseas trade manager Stuart Jones said. “The value of milk powder, butter, and cheese exports rose 20 percent, with quantities down 0.1 percent.”
The rise in imports was led by capital goods, up 26 percent.
The seasonally adjusted trade balance for the September 2013 quarter was a deficit of $637 million, equivalent to 5.3 percent of exports. This follows a deficit of $689 million in the June quarter.
For the September month, export values increased $543 million compared with September 2012, led by milk powder, butter, and cheese, up $310 million. Imports fell $48 million.
Overseas merchandise trade uses New Zealand Customs Service data to measure goods as they enter or exit New Zealand's economic territory. This contrasts with the goods trade that the balance of payments measures, which takes into account the change of ownership of these goods, whether or not the goods enter or exit New Zealand's border.