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

 


Exports continue to rise in March quarter

Exports continue to rise in March quarter

29 April 2014

The seasonally adjusted value of exported goods rose 2.1 percent to $13.6 billion in the March 2014 quarter, Statistics New Zealand said today. This follows rises in the previous two quarters.

“Meat and fruit led the increase in seasonally adjusted exports,” international statistics manager Jason Attewell said. “This is the second consecutive quarter that both values and quantities for these two commodities have risen.”

Seasonally adjusted meat values rose 8.7 percent in the March quarter, and quantities rose 6.8 percent.

Fruit values rose 27 percent, and quantities rose 20 percent.

The rise in meat and fruit was offset slightly by a fall in milk powder, butter, and cheese, down 2.4 percent. The fall in dairy follows 26 percent increases in both the September and December 2013 quarters. Despite the small fall this quarter, dairy remains at high levels and is the leading contributor (31 percent) to total exports.

Imports rose 1.5 percent to $12.5 billion in the March 2014 quarter. The increase was led by a rise in capital goods.

The seasonally adjusted trade balance for the March 2014 quarter was a surplus of $1.1 billion. This follows a surplus of $986 million in the December 2013 quarter.

Monthly exports pass $5 billion for the first time
Exports rose $671 million in the March month, to $5.1 billion. Milk powder, butter, and cheese led the rise in exports, up $474 million (45 percent) compared with March 2013.

“This is the first time monthly exports have exceeded $5 billion, and annual exports have exceeded $50 billion,” Mr Attewell said. “Record dairy exports pushed the values past these thresholds.”

Imports rose $483 million (13 percent) to $4.2 billion, which was influenced by a one-off large capital item. The trade surplus was $920 million. This is the highest recorded surplus for a March month.

New Zealand's international trade
Overseas merchandise trade statistics measure the goods component of international trade. For a complete picture, view this release with international trade in services figures, due to be released on 18 June 2014 as part of Balance of Payments and International Investment Position.

For more information about these statistics:
Overseas Merchandise Trade: March 2014

Information release (PDF)
Tables (Excel)

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Suspected Black Widows: Table Grapes Withdrawn From Sale Following Spider Discovery

The Ministry for Primary Industries (MPI) is working closely with New Zealand produce retailers to have all imported Mexican table grapes withdrawn from sale following the discovery of spiders in a small number of consignments. More>>

ALSO:

Crown Accounts: 11-Month Surplus Beating Forecasts

Once minority interests’ share of revenues and expenses are removed, the total Crown’s operating balance before gains and losses (OBEGAL) was a surplus of $1,176 million in the eleven-month period. This compares to a forecast surplus of $193 million. More>>

ALSO:

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:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news