Skip to main content

New Zealand recorded record exports by value in March, driven by shipments of dairy products to China and contributing to a larger-than-expected monthly trade surplur, according to the NZ Herald.

Exports rose 11% to $4.5 billion last month, surpassing the previous record of $4.2 billion set in May last year, the Herald said, citing Statistics New Zealand. Imports rose 17% to $4.1 billion, resulting in a monthly trade surplus of $464 million.

A surplus of $300 million was forecast in a Reuters survey.

New Zealand is enjoying what Reserve Bank Governor Alan Bollard has called a “structural shift” in global demand for commodities, driven by a burgeoning middle class in emerging economies such as China.

Exports to China, the second-largest market for New Zealand after Australia, jumped 40% in the latest month, with the value of dairy products rising $125 million.

The annual trade surplus was $631 million, compared to a Reuters forecast of $500 million, marking the first surplus in a March year since 2002.

Imports were boosted by aircraft, which are large enough to push the monthly numbers around.

They increased by $270 million in March, the biggest increase. Imports of petroleum products climbed 32%.

Excluding aircraft imports, the monthly trade surplus would have been $682 million, Statistics New Zealand said.

— Source: Business Desk, NZ Herald

Dishing

Dishing up export possibilities

Exporter Today Editorial TeamExporter Today Editorial TeamApril 16, 2012
minefield

What’s mine is not yours

Exporter Today Editorial TeamExporter Today Editorial TeamApril 16, 2012
25-countries

25 countries… and counting

Exporter Today Editorial TeamExporter Today Editorial TeamApril 16, 2012