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- New Zeeland's trade balance deficit increased more than expected
New Zeeland's trade balance deficit increased more than expected
For August 2016 compared with August 2015:
Goods exports fell $323 million to $3.4 billion.
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Milk powder, butter, and cheese led the fall, down $135 million (22 percent).
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Meat and edible offal fell $111 million (26 percent), with falls in beef and lamb.
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Logs, wood, and wood articles rose $102 million (34 percent), led by untreated logs.
Goods imports fell $148 million to $4.7 billion.
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Capital goods led the fall in imports, down $195 million (45 percent).
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Crude oil fell $106 million (38 percent) in value and 16 percent in quantity.
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Excluding petroleum products and aircraft and parts, goods imports rose $182 million (4.4 percent).
The monthly trade balance was a deficit of $1.3 billion (37 percent of exports).
The trade weighted index rose 9.2 percent from August 2015.
Milk powder exports fell in August 2016 to the lowest level since August 2009, contributing to a large 8.7 percent fall in the monthly value of exports when compared with August 2015, Statistics New Zealand said today.
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