Sharechat Logo

NZ posts small trade surplus in March

By NZPA

Thursday 26th April 2007

Text too small?
New Zealand posted a $61 million trade surplus in March, just above economists' forecasts of $50m and in line with last year's $69m surplus, Statistics New Zealand said today.

The March trade deficit came in at $5.78 billion, virtually unchanged from February but a significant improvement on the $7.01 billion deficit in the year to March 2006.

Exports in the month were $3.33 billion from $3.18 billion a year earlier while imports rose to $3.27 billion from $3.11 billion.

Seasonally adjusted merchandise exports over the March quarter rose 1.4% from the December quarter, while seasonally adjusted imports rose 1.0%.

The slightly larger increase in exports has resulted in a small reduction in the seasonally adjusted trade deficit for the March 2007 quarter, to just under $1.6 billion.

The current rise in seasonally adjusted exports follows a fall in the December 2006 quarter, which was due to high values in the June and September 2006 quarters.

The rise this quarter was influenced most by the movements of two commodity groups.

Milk powder, butter and cheese rose 14.0%.

Offsetting this, meat and edible offal fell 8.4% compared with the December 2006 quarter.

The seasonally adjusted rise in imports was led by petrol and avgas, which increased by more than half in the March quarter.

This followed a larger decrease in the December 2006 quarter. The irregular nature of petrol and avgas shipments can lead to these large variations in values.

Intermediate goods other than crude oil, and consumption goods, were also up this quarter, both showing their fifth consecutive increase.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Broader review powers eyed for Climate Change Commission
MARKET CLOSE: NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
NZ dollar rises as markets bet on US interest rate cut
Fonterra seeks further changes to dairy act
Tilt, Oji say transmission changes may discourage new generation
Tourism Holdings shares fall to 6-week low as US margins shrink
Venture capitalists split on govt picking winners
21st October 2019 Morning Report
Kiwi dollar steady as markets await Brexit developments
Domestic AGMs, multi-national earnings to provide economic insights

IRG See IRG research reports