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Exports and imports rise in July 2012

Exports and imports rise in July 2012

Embargoed until 10:45am – 24 August 2012

The value of exported goods rose $296 million (8.0 percent) in July 2012, compared with July 2011, Statistics New Zealand said today. This was led by a rise in the value of milk powder exports.

Imports rose $383 million (11 percent). All three broad economic categories – capital, intermediate, and consumption goods – rose in value.

"The increase in milk powder drove the increase in exports," industry and labour statistics manager Neil Kelly said. "The trade surplus has fallen compared with July 2011, as the increase in imports was stronger than the increase in exports."

The trade balance for July 2012 was a small surplus of $15 million (0.4 percent of exports). This compares with a surplus of $103 million (2.8 percent) of exports in July 2011.

Seasonally adjusted exports fell 0.4 percent and imports fell 1.5 percent compared with June 2012. Most major export commodities fell, offset by milk powder, butter, and cheese, which rose 20 percent.



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