fbpx
Print this page
Thursday, 24 May 2012 13:14

Export values drop

Written by 

Compared with April 2011, exports of goods fell $799 million (17 percent) in April 2012, to $3.9 billion, Statistics New Zealand said today.

Exports of dairy products, meat and edible offal, crude oil, and logs, wood, and wood articles all showed notable decreases for the month. Crude oil tends to be imported and exported in large, irregular shipments. Twenty-one of the 25 largest commodity groups exported from New Zealand showed decreases in April 2012.

"Most commodities for exports fell this month, with primary products driving the decrease, although it should be noted that April 2011 had the highest exports value for any month on record so far," industry and labour statistics manager Neil Kelly said.

For April 2012, imports of goods increased $3.7 million (0.1 percent) compared with April 2011. Imports of plant and machinery, and passenger motor cars both increased. This was offset by decreases in crude oil, fertilisers, and inorganic chemicals.

The trade balance for April 2012 was a surplus of $355 million (9.1 percent of exports). For the year ended April 2012, there was an annual trade deficit of $541 million (1.2 percent of exports).

The exports trend has been decreasing since November 2011, which was a record high, and is now at the same level as in November 2010. The trend for imports has been flat in recent months, and is up 24 percent since its most recent low point in September 2009. However, this trend is still 7.1 percent below its overall peak in September 2008.

More like this

Export prices set to remain elevated

Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.

2024 red meat exports end on a high

New Zealand's red meat exports for 2024 finished on a positive note, with total export value increasing 17% over last December to reach $1.04 billion, according to the Meat Industry Association (MIA).

Featured

Wilmar hands over US$725m ‘court security’ in Indo graft case

Reuters reports that giant food company Wilmar Group has announced it had handed over 11.8 trillion rupiah (US$725 million) to Indonesia's Attorney General's Office as a "security deposit" in relation to a case in court about alleged misconduct in obtaining palm oil export permits.

National

Machinery & Products

Calf feeding boost

Advantage Plastics says it is revolutionising calf meal storage and handling, making farm life easier, safer, and more efficient this…

JD's precision essentials

Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting…