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- New Zealand has a trade balance deficit of $1.1 billion in September
New Zealand has a trade balance deficit of $1.1 billion in September
Milk powder, butter, and cheese leads exports rise:
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Goods exports rose $313 million (9.0 percent) to $3.8 billion.
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Milk powder, butter, and cheese had the largest rise of any export commodity group in September 2017, up $175 million (28 percent) to $791 million.
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Milk fats including butter led the rise in milk powder, butter, and cheese, up $62 million (43 percent) to $207 million, with quantity down 22 percent.
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Milk powder rose $58 million (20 percent) in value, with quantity down 15 percent.
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Milk and cream rose $44 million (118 percent) in value, and 41 percent in quantity.
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Fruit exports fell $69 million (30 percent) in value, and 38 percent in quantity.
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The fall in fruit exports was due to kiwifruit, down in both value ($70 million) and quantity (42 percent). However, for the September 2017 year, the value of kiwifruit exports rose $69 million (4.1 percent) from the previous year. The quantity of kiwifruit exports fell 2.0 percent over the same period.
The monthly trade balance was a deficit of $1.1 billion (30 percent of exports).
The average monthly deficit in September over the last five years was $980 million (28 percent of exports).
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