Exports to China double those to Australia in January
Exports to China double those to Australia in January –
27 January 2014
In January 2014, goods exports were worth $4.1 billion, with $1.2 billion going to China and $556 million to Australia, Statistics New Zealand said today.
The rise in exports to China, up $590 million, was due to milk powder, butter, and cheese exports, up $469 million. The fall in exports to Australia, down $80 million, was due to unwrought gold and silver, and crude oil.
“A record 30 percent of our total exports headed to China in January 2014,” industry and labour statistics manager Louise Holmes-Oliver said. “These exports were more than double the value of those that went to Australia.”
The value of imported goods rose $129 million (3.5 percent) to $3.8 billion. Capital goods led the rise, up $93 million. This was led by well-sinking and boring machinery, mechanical shovels, and goods transport vehicles.
The trade balance for January 2014 was a surplus of $306 million (7.5 percent of exports). This is the highest-ever trade surplus for any January month.
Seasonally adjusted exports fell 0.6 percent in January 2014 compared with December 2013, while the trend remains at a high level. Seasonally adjusted imports fell 5.4 percent in January 2014, with the trend increasing 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 on the Statistics NZ website.