NEW ZEALAND – The seasonally adjusted value of exported goods fell 3.3 percent in the December 2012 quarter, Statistics New Zealand said today. This follows a rise of 4.4 percent in the September 2012 quarter.«Seasonally adjusted dairy exports led the fall in exports in the December 2012 quarter,» industry and labour statistics manager Louise Holmes-Oliver said. «Milk powder, butter, and cheese exports fell 12 per cent, with quantities down 15 per cent.â€
The seasonally adjusted value of imported goods decreased 1.5 per cent for the second consecutive quarter.
The seasonally adjusted trade balance for the December 2012 quarter was a deficit of $87 million, equivalent to 0.8 percent of exports. This follows a $128 million deficit for the September 2012 quarter.
For the December 2012 month, export values decreased $217 million (5.1 per cent) compared with December 2011, and imports decreased $403 million (10 per cent).
The trade balance for the December 2012 month was a surplus of $486 million (12 percent of exports). This is the largest trade surplus recorded for a December month as a percentage of exports since December 1991.
For the year ended December 2012, merchandise exports were down $1.7 billion to $46 billion. Exports to Australia fell $1.0 billion and were almost offset by a rise in exports to China of $975 million. Imports for the December 2012 year rose $339 million to $47 billion.
Source: The Dairy Site