New Zealand trade balance surplus rose more than expected m/m

February 2018 monthly values are actual and compared with February 2017.

• Goods exports rose $446 million (11 percent) to $4.5 billion.

• Goods imports rose $187 million (4.6 percent) to $4.2 billion, a new high for total imports in a February month. The previous high was $4.1 billion, in February 2017.

• The monthly trade balance was a surplus of $217 million (4.9 percent of exports).

• Meat and edible offal led the export rise, up $85 million (13 percent) to $768 million.

• Sheep meat (lamb and mutton) rose $77 million (21 percent) in value and 3.2 percent in quantity.

• Beef was little changed, down 0.3 percent in value and 5.0 percent in quantity.

• Meat and edible offal exported in the year ended February 2018 rose 14 percent in value and 1.6 percent in quantity from the February 2017 year.

• Logs, wood, and wood articles rose $62 million (19 percent) to $382 million.

• Untreated logs rose $45 million (22 percent) to $255 million.

• Logs, wood, and wood articles exported in the year ended February 2018 rose 16 percent in value and 12 percent in quantity from the February 2017 year.

• Milk powder, butter, and cheese rose $55 million (5.3 percent) to $1.1 billion.

• Butter rose $38 million (28 percent) in value. Quantity fell 1.9 percent.

• Milk powder was little changed, up 0.3 percent in value to $559 million. Quantity rose 10 percent. The unit value of milk powder exports fell 9.0 percent from February 2017.