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

OverseasMerchandiseTradeOct13.pdf

omtoct13tables.xls

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Development: Screen Precinct Earmarked For Hobsonville Point

Auckland Council’s Auckland Development Committee has today passed a recommendation to create a screen precinct on council-owned land at Hobsonville Point. More>>

ALSO:

Scoop Business: NZ Business Confidence Plummets To Lowest Level Since GFC

New Zealands business confidence plunged to the lowest level in three years in the second quarter as companies became pessimistic about profitability expectations. More>>

ALSO:

Oceans: NZ Jumps Into International Shark Agreement

New Zealand has boosted the protection of sharks by signing the Memorandum of Understanding on the Conservation of Migratory Sharks. More>>

ALSO:

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news