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26 Feb 2014
New Zealand shows highest-ever trade surplus for January
FXStreet (Córdoba) - The trade balance of New Zealand showed a bigger-than-expected surplus of NZD 306M, above the expected NZD 216M. It was the highest surplus for any January month. Both exports and imports fell in January compared with December
Key quotes from the report:
“The rise in exports to China, up $590 million, was due to milk powder, butter, and cheese exports, up $469 million. The fall in exports to Australia, down $80 million, was due to unwrought gold and silver, and crude oil”.
“The value of imported goods rose $129 million (3.5 percent) to $3.8 billion. Capital goods led the rise, up $93 million. This was led by well-sinking and boring machinery, mechanical shovels, and goods transport vehicles”.
“Seasonally adjusted exports fell 0.6 percent in January 2014 compared with December 2013, while the trend remains at a high level. Seasonally adjusted imports fell 5.4 percent in January 2014, with the trend increasing in recent months”.
Key quotes from the report:
“The rise in exports to China, up $590 million, was due to milk powder, butter, and cheese exports, up $469 million. The fall in exports to Australia, down $80 million, was due to unwrought gold and silver, and crude oil”.
“The value of imported goods rose $129 million (3.5 percent) to $3.8 billion. Capital goods led the rise, up $93 million. This was led by well-sinking and boring machinery, mechanical shovels, and goods transport vehicles”.
“Seasonally adjusted exports fell 0.6 percent in January 2014 compared with December 2013, while the trend remains at a high level. Seasonally adjusted imports fell 5.4 percent in January 2014, with the trend increasing in recent months”.