New Zealand Balance of Trade

New Zealand recorded a trade surplus of 718 Million NZD in March of 2013. Balance of Trade in New Zealand is reported by the Statistics New Zealand. Historically, from 1951 until 2013, New Zealand Balance of Trade averaged -38.95 Million NZD reaching an all time high of 1158 Million NZD in April of 2011 and a record low of -1251.90 Million NZD in September of 2008. New Zealand is greatly dependent on international trade. New Zealand's economy has traditionally been based on a foundation of exports from its very efficient agricultural system: meat, dairy products, forest products, fruit and vegetables, fish, and wool. New Zealand imports mainly machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles and plastics. Its main trading partners are: Australia, European Union, The United States, China and Japan. This page includes a chart with historical data for New Zealand Balance of Trade.

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New Zealand Balance of Trade
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New Zealand Posts Trade Surplus in March
Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com  |  4/26/2013 12:08:46 AM


For the March 2013 month, export values increased $213 million (5.1 percent), compared with March 2012, and imports decreased $319 million (7.9 percent). The trade balance for the March 2013 month was a surplus of $718 million (16 percent of exports). This compares with an average deficit of $354 million (8.3 percent) of exports over the previous five March months.

In March 2013, merchandise exports were valued at $4.4 billion, up $213 million (5.1 percent) from March 2012. The rise in exports was led by meat and edible offal. Meat and edible offal exports rose $100 million (18 percent) to $662 million. Logs, wood, and wood articles rose $73 million (28 percent) to $336 million, due to pine logs. Ships, boats, and floating structures rose $41 million due to exports of pleasure boats, up $39 million. There were no similar exports in March 2012.
Milk powder, butter, and cheese, New Zealand's largest export commodity group, showed little change, increasing $1.3 million (0.1 percent).
Petroleum and products other than crude oil showed the largest decrease, down $37 million (89 percent). This was led by partly refined petroleum, down $18 million, and bituminous road surface preparations, down $16 million.

Exports to China showed the largest increase, up $278 million (47 percent). This was led by meat and edible offal, up $91 million (247 percent), whole milk powder, up $78 million (66 percent), and pine logs, up $74 million (102 percent).

In March 2013, the value also rose for exports to the United States – up $63 million (16 percent), led by boneless frozen beef cuts, up $56 million (62 percent) and to Fiji – up $40 million, due to exports of pleasure boats. Japan showed the largest decrease, down $46 million (13 percent), led by naphthalene, down $26 million.

In the March 2013 month, imported goods were valued at $3.7 billion, down $319 million (7.9 percent) from March 2012.

The value of petroleum and products fell $139 million (14 percent) in March 2013 compared with March 2012. The fall was mainly due to a decrease in crude oil, down $191 million. This was partly offset by an increase in automotive diesel, up $43 million, and regular motor spirit, up $26 million.
Other key changes in import values were seen for mechanical machinery and equipment – down $50 million (10 percent), led by excavators and cranes; salt, earths, stone, lime, and cement – down $24 million (42 percent), due to natural calcium phosphates and vehicles – up $16 million (4.1 percent), due to goods transport vehicles.

The seasonally adjusted value of exported goods rose 0.8 percent in the March 2013 quarter. This follows a fall of 2.9 percent in the December 2012 quarter. Milk powder, butter, and cheese led the increase in the March 2013 quarter – values were up 3.5 percent, and quantities were up 3.6 percent.

The seasonally adjusted value of imported goods decreased 0.2 percent in the March 2013 quarter, following a 1.6 percent fall in the December 2012 quarter.

The seasonally adjusted trade balance for the March 2013 quarter was a surplus of $52 million, equivalent to 0.4 percent of exports. This follows a deficit of $59 million in the December 2012 quarter.

China overtook Australia as top export destination for the first time in the March 2013 quarter.

 

ARCHIVE
New Zealand Posts Trade Surplus in February
The value of exported goods rose $290 million (8.0 percent) to $3.9 billion in February 2013, compared with February 2012, according to a release from Statistics New Zealand. This was led by an increase in exports to China, up $259 million (49 percent). 2013-03-26

New Zealand Trade Surplus Widens in April
New Zealand trade balance for April 2012 was a surplus of $355 million (9.1 percent of exports). For the year ended April 2012, there was an annual trade deficit of $541 million (1.2 percent of exports). 2012-05-24

New Zealand Posts Trade Surplus in December
The seasonally adjusted trade balance for the December 2012 quarter was a deficit of $87 million, equivalent to 0.8 percent of exports. This follows a $128 million deficit for the September 2012 quarter. 2013-01-29

New Zealand Reports Trade Surplus in February
In February 2012, there was a trade surplus of $161 million (4.5 percent of exports). This compares with an average surplus of 6.1 percent of exports over the previous five February months, although there was a deficit in February 2007. 2012-03-28

New Zealand Trade Deficit Narrows in October
The trade balance for October 2012 was a deficit of $718 million (21 percent of exports). This compares with a deficit of $226 million (5.8 percent of exports) in October 2011. 2012-11-27

New Zealand Reports Trade Deficit in January
In January 2012, the value of exported goods rose $430 million (13 percent), to $3.7 billion. Imported goods rose $637 million (19 percent), to $3.9 billion. 2012-02-29

New Zealand Trade Deficit Narrows in September
In the September 2012 month, there was a trade deficit of $791 million (24 percent of exports). This compares with an average deficit of $726 million (23 percent of exports) over the previous five September months. 2012-10-26

New Zealand Reports Trade Surplus in December
In December 2011, New Zealand reported a trade surplus equivalent to $338 million (7.8 percent of exports). This compares with an average deficit of 5.2 percent of exports over the previous five December months. 2012-02-02

New Zealand Posts Trade Deficit in August
New Zealand posted a trade deficit of $789 million (24 percent of exports). August months are typically trade deficits. For the year ended August 2012, there was an annual trade deficit of $866 million (1.8 percent of exports). 2012-09-26




Balance of Trade | Notes

The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.






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