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:

• gold kiwifruit led the rise, up $122 million in value and 22,285 tonnes in quantity

• 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).