Friday, July 1, 2022

Dairy leads fall in exports

Dairy exports led the fall in the value of exported goods in the December 2012 quarter, which fell 3.3% according to figures released by Statistics New Zealand today.

That follows a rise of 4.4% in the September 2012 quarter.

"Milk powder, butter and cheese exports fell 12% (in value) with quantities down 15%,” industry and labour statistics manager Louise Holmes-Oliver said.

Total export values decreased $217 million, or 5.1%, in December 2012 compared with December 2011 and imports decreased $403m, or 10%.

The seasonally adjusted value of imported goods decreased 1.5% for the second consecutive quarter while the seasonally adjusted trade balance was a deficit of $87m, equivalent to 0.8% of exports.

This follows a $128m deficit for the September 2012 quarter.

The trade balance for the December 2012 month was a surplus of $486m, or 12% of exports.

This is the largest trade surplus recorded for a December month as a percentage of exports since December 1991.

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