New Zealand Trade Deficit Widens in December


New Zealand trade deficit widened in December to $250 million as imports growth outpaced exports.

In the December 2010 month, merchandise exports were valued at $3.8 billion, up $390 million (11 percent) from December 2009.

Milk powder, butter, and cheese exports recorded the largest increase, up $245 million (31 percent). Meat and edible offal showed the next-largest increase, up $101 million (25 percent), with frozen beef cuts accounting for almost half the increase. Logs, wood, and wood articles increased $81 million (41 percent), led by pinus radiata logs.

Ships, boats, and floating structures recorded the largest decrease, down $133 million (96 percent), mainly due to the one-off export of an oil rig in December 2009. Crude oil recorded the next-largest decrease, down $65 million (37 percent), due to lower quantities.

In the month of December 2010 merchandise imports were valued at $4.1 billion, up $614 million (18 percent) from December 2009.

Aircraft and parts recorded the largest increase, up $247 million, mainly due to the oneoff importation of aircraft. Mechanical machinery and equipment had the second-largest increase, up $97 million (25 percent), across a range of commodities. Turbo-jets with a thrust exceeding 25kN were a leading contributor. Ships, boats, and floating structures had the third-largest increase, up $72 million, a ninefold increase led by the import of large passenger vessels. Vehicles, parts, and accessories had the next-largest increase, up $69 million (21 percent). Passenger cars were up $29 million (13 percent) while goods vehicles were up $14 million (32 percent). Petroleum and products had the next-largest increase, up $42 million (6.5 percent), led by automotive diesel.

Sugars and sugar confectionery had the largest decrease, down $22 million (58.2 percent).


TradingEconomics.com, Statistics New Zealand
2/2/2011 7:09:45 PM