Trade surplus confirmed

By Phil Boeyen, ShareChat Business News Editor

Thursday 11th October 2001

Statistics New Zealand has confirmed the country's trade surplus for the year ended August.

Provisional figures released last month estimated the value of the surplus at $325 million but final accounts have put the figure at $311 million.

Exports for August were worth $2.64 billion, $10 million less than the early estimate, while imports for the month were $2.747 billion.

Statistics NZ says the data shows a rising exports trend and a flat imports trend, which has caused the trade balance trend to rise.

"The deficit of $107 million is 4.1% of the value of exports for the month. Deficits of more than 4.1% of exports have occurred in nine out of the 10 previous August months."

The updated value of merchandise exports for the year ended August is $32.606 billion, a jump of 21.6% compared with the previous year.

The surplus for the August year is well above the $45 million recorded for the year ended July, which was the country's first annual surplus since 1995.

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