Dairy Drives Increase in Exports

1 February 2006

Dairy Drives Increase in Exports

Exports of merchandise goods for the month of December 2005 increased 4.3 percent compared with December 2004, and are valued at $2,651 million, Statistics New Zealand said today. Driving the increase were higher values for milk powder, butter and cheese, up 23.3 percent. Imports of merchandise goods for December 2005 decreased by 4.0 percent and are valued at $2,943 million.

The monthly trade balance for December 2005 is a deficit of $292 million (11.0 percent of exports). The average trade balance for December months during the past decade is a deficit of $279 million.

In the December 2005 quarter, seasonally adjusted exports of merchandise goods are valued at $7,848 million, up 4.9 percent compared with the September 2005 quarter. This increase was driven by milk powder, butter and cheese; kiwifruit; and casein and caseinates. The seasonally adjusted value of imports this quarter is $9,551 million, up 1.8 percent on the September 2005 quarter. Import values for transport equipment, and petrol and avgas had the largest increases for the quarter.

The seasonally adjusted trade balance for the December 2005 quarter is a deficit of $1,703 million (21.7 percent of exports). The trend for the quarterly trade balance has been in deficit since June 2002.

Brian Pink

Government Statistician

ENDS

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