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


Lowest October trade deficit since the mid-1990s

Lowest October trade deficit since the mid-1990s – Media release

27 November 2013

The trade balance for October 2013 was a deficit of $168 million, Statistics New Zealand said today. This is the lowest deficit for an October month since the mid-1990s. October months historically have trade deficits.

"The low trade deficit was due to exported goods recording the highest value for an October month," industry and labour statistics manager Louise Holmes-Oliver said. "It was the highest value for exported goods for any month since March 2013."

The value of exported goods rose $783 million (23 percent) to $4.2 billion. This rise was due to milk powder, butter, and cheese, up $690 million, while quantities increased 22 percent in October 2013.

The value of imported goods rose $237 million (5.7 percent) to $4.4 billion. All three broad economic categories rose, with intermediate goods showing the largest increase, up $93 million.

After removing seasonal effects, the value of exported goods in October 2013 fell 8.2 percent compared with September 2013. A fall in crude oil export quantities from September 2013, which were at their highest level since July 2012, had a large effect on seasonally adjusted exports.

Seasonally adjusted imports for October 2013 rose 0.1 percent compared with September 2013.

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.

Overseas Merchandise Trade: October 2013




© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news