Decline in NZ goods exports

The value of the New Zealand exports dropped almost $800 million in April to $3.9 billion.

Exports are now down 17 per cent compared with April 2011 and both exports and imports were weaker than expected, according to Statistic New Zealand figures.

The majority of export commodities fell in April, with milk powder, butter and cheese recording the largest decrease.

Other notable decreases came from exports of meat and edible offal, crude oil, and logs, wood, and wood articles.

The trend in exports has been falling since November 2011.

Industry and labour statistics manager Neil Kelly says 21 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.”

Imports of goods increased 0.1 per cent to $3.7 million in April, compared with April 2011. Imports of plant and machinery and passenger motor cars both increased – offset by decreases in crude oil, fertilisers, and inorganic chemicals.

New Zealand exported more than we imported in April and had a trade surplus of $355 million.

For the year ending April 2012 there was an annual trade deficit of $541 million.

The trend for imports has been flat in recent months but is still up 24 per cent from the most recent low point in September 2009.

2 comments

VERY OMINOUS SIGNS HERE

Posted on 03-06-2012 18:19 | By Hebegeebies

Didn't hear anything about that in the Budget so what do the Ecomonic gurus have to say about this.How will this sort of setback affect the so called "get out of jail card' and economic blueprint.


Aren't National doing well with the economy?

Posted on 04-06-2012 09:26 | By Phailed

Umm. Not looking great. We continue to merrily spend more than we earn.


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