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- New Zealand's monthly trade balance was a surplus of $294 million (5.4 percent of exports)
New Zealand's monthly trade balance was a surplus of $294 million (5.4 percent of exports)
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Goods exports rose $509 million (10 percent) to $5.4 billion, a new high for total exports in a May month, and the second-highest for any month. The highest was $5.5 billion in December 2017.
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Goods imports rose $277 million (5.7 percent) to $5.1 billion, a new high for total imports in a May month. The previous high was $4.8 billion in May 2017.
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The monthly trade balance was a surplus of $294 million (5.4 percent of exports), higher than the average monthly surplus in the last five May months ($215 million).
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Meat and edible offal lead exports rise
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Meat and edible offal led the export rise, up $119 million (17 percent) to $812 million, the second highest for any month. The previous high was in March 2015.
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Lamb led the rise, up $89 million (32 percent) in value and 22 percent in quantity.
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Beef also rose, up $16 million (4.5 percent) in value and 5.3 percent in quantity.
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Logs, wood, and wood articles rose $99 million (26 percent) to $477 million.
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Untreated logs rose $76 million (32 percent) to $314 million.
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Petroleum and products (other than crude oil) rose $84 million to $104 million.
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Preparations of milk, cereals, flour, and starch rose $60 million (52 percent) to $175 million. This group includes infant formula.
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Fruit rose $55 million (10 percent) to $599 million.
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Kiwifruit was up $40 million to $414 million.
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Milk powder, butter, and cheese rose $36 million (3.2 percent) to $1.2 billion.
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Casein and caseinates fell $33 million (37 percent).
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