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- New Zealand trade balance deficit rose more than expected in September
New Zealand trade balance deficit rose more than expected in September
September 2018 monthly values are actual and compared with September 2017.
Goods exports rose $536 million (14 percent) to $4.3 billion.
Goods imports rose $930 million (19 percent) to $5.9 billion, a new monthly high, with the previous high in November 2017.
The monthly trade balance was a deficit of $1.6 billion (36 percent of exports), the largest monthly deficit on record.
Fruit led the export rise, up $188 million (118 percent) to $347 million:
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gold kiwifruit led the rise, up $122 million in value and 22,285 tonnes in quantity
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green kiwifruit also rose, up $62 million (56 percent) in value and 42 percent in quantity.
Logs, wood, and wood articles rose $75 million (19 percent) to $466 million.
Meat and edible offal rose $61 million (20 percent) to $367 million.
Milk powder, butter, and cheese fell $32 million (4.1 percent) to $759 million.
The monthly movements for September 2018 for our top export partners (ranked by total annual goods exports) were:
China - up $73 million (8.4 percent) to $946 million, led by kiwifruit (up $44 million) and meat and edible offal (up $41 million), partly offset by milk powder (down $37 million).
Australia - up $110 million (15 percent) to $854 million, led by rises in crude oil (up $36 million) and iron and steel (up $21 million).
EU - up $81 million (23 percent) to $438 million, led by kiwifruit (up $44 million), mainly green kiwifruit.
USA - up $28 million (8.5 percent) to $354 million, with the increase spread over many commodities.
Japan - up $65 million (26 percent) to $317 million, led by kiwifruit (up $47 million).
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