26 Nov 2013
New Zealand prints lowest trade deficit since mid 90s
FXstreet.com (Barcelona) - New Zealand October trade deficit came at its lowest level since the mid-1990s, with the trade balance for October 2013 shrinking to a deficit of $168 million.
Overseas Merchandise Trade: October 2013 – Media Release
The trade balance for October 2013 was a deficit of $168 million, Statistics New Zealand said today. This is the lowest deficit for an October month since the mid-1990s. October months historically have trade deficits.
"The low trade deficit was due to exported goods recording the highest value for an October month," industry and labour statistics manager Louise Holmes-Oliver said. "It was the highest value for exported goods for any month since March 2013."
The value of exported goods rose $783 million (23 percent) to $4.2 billion. This rise was due to milk powder, butter, and cheese, up $690 million, while quantities increased 22 percent in October 2013.
The value of imported goods rose $237 million (5.7 percent) to $4.4 billion. All three broad economic categories rose, with intermediate goods showing the largest increase, up $93 million.
After removing seasonal effects, the value of exported goods in October 2013 fell 8.2 percent compared with September 2013. A fall in crude oil export quantities from September 2013, which were at their highest level since July 2012, had a large effect on seasonally adjusted exports.
Seasonally adjusted imports for October 2013 rose 0.1 percent compared with September 2013.
Overseas Merchandise Trade: October 2013 – Media Release
The trade balance for October 2013 was a deficit of $168 million, Statistics New Zealand said today. This is the lowest deficit for an October month since the mid-1990s. October months historically have trade deficits.
"The low trade deficit was due to exported goods recording the highest value for an October month," industry and labour statistics manager Louise Holmes-Oliver said. "It was the highest value for exported goods for any month since March 2013."
The value of exported goods rose $783 million (23 percent) to $4.2 billion. This rise was due to milk powder, butter, and cheese, up $690 million, while quantities increased 22 percent in October 2013.
The value of imported goods rose $237 million (5.7 percent) to $4.4 billion. All three broad economic categories rose, with intermediate goods showing the largest increase, up $93 million.
After removing seasonal effects, the value of exported goods in October 2013 fell 8.2 percent compared with September 2013. A fall in crude oil export quantities from September 2013, which were at their highest level since July 2012, had a large effect on seasonally adjusted exports.
Seasonally adjusted imports for October 2013 rose 0.1 percent compared with September 2013.