Total goods exports fall in May

Total goods exports fall in May

26 June 2015

Total goods exports fell $214 million (4.7 percent) to $4.4 billion in May 2015 compared with May 2014, Statistics New Zealand said today. Milk powder, butter, and cheese exports led the fall, down 28 percent ($346 million).

“Despite dairy exports falling, they accounted for one-fifth of total goods exports in May,” international statistics manager Jason Attewell said. "At its peak, dairy made up two-fifths of total goods exports."

The fall in milk powder, butter, and cheese exports was led by whole milk powder, down 37 percent, with quantities down 6.9 percent. Whole milk powder export values to China have been low this year compared with last year, but values to other countries have remained fairly stable.

Fruit exports rose $107 million to $445 million in May 2015, the highest monthly value ever. Kiwifruit rose $76 million, and apples rose $33 million.

Goods imports fell $300 million (7.0 percent) to $4.0 billion in May 2015. Intermediate goods fell $259 million, led by crude oil, and capital goods fell $80 million. Consumption goods rose $4.8 million.

In May 2015, the goods trade surplus was $350 million (8.0 percent of exports), slightly down from an average surplus of 8.6 percent over the previous five May months. For the year ended May 2015, the annual goods trade deficit was $2.6 billion.

This release focuses on our goods trade. Goods made up 73 percent of total goods and services exports and 75 percent of total imports for the year ended March 2015. For a comprehensive picture of New Zealand’s international trade, see Goods and Services Trade by Country: Year ended March 2015.

For more information about these statistics:
• Visit Overseas Merchandise Trade: May 2015

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