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Monthly exports fall for first time since August 2013

Monthly exports fall for first time since August 2013

The value of exported goods was $3.7 billion in July 2014, down $125 million (3.3 percent) compared with

July 2013, Statistics New Zealand said today.

"Goods exports decreased over a range of commodities, but the fall was led by pine logs," international statistics manager Jason Attewell said. “This is the first fall in exports after 10 months of rises."

Over the last 10 months, milk powder, butter, and cheese values rose between 34 and 84 percent when compared with same month in the previous year. This drove the large increase in total goods exports over that time. In July 2014, the small rise in milk powder, butter, and cheese exports (up 0.9 percent) was offset by larger falls in other commodities.

The value of imports fell $221 million (4.8 percent). The trade balance for July 2014 was a deficit of $692 million (19 percent of exports).

Seasonally adjusted exports fell 7.5 percent in July 2014 compared with June 2014. Seasonally adjusted imports fell 1.8 percent in July 2014.

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: July 2014

Key facts

For July 2014 compared with July 2013:
- Exports fell $125 million (3.3 percent) to $3.7 billion.
- Logs, wood, and wood articles led this fall, down $53 million.
- Exports to China fell $35 million to $615 million, and to Australia fell $53 million to $687 million.
- The trend for exports appears to be falling.
- Imports fell $221 million (4.8 percent) to $4.4 billion.
- There was a trade deficit of $692 million (19 percent of exports).

Ends

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