New Zealand Trade Gap Narrows in September

The trade gap in New Zealand narrowed to NZD 1242 million in September of 2019 from NZD 1580 million in the same month of the previous year, as exports rose 5.1 percent to NZD 4469 million and imports declined 2.1 percent to NZD 5710 million. The twelve-month trade shortfall decreased to NZD 5,213 million from NZD 5309 million a year earlier.
Statistics New Zealand | Mario | mario@tradingeconomics.com 10/23/2019 8:53:19 AM
Exports went up 5.1 percent over a year earlier to NZD 4469 million, after a 2.6 percent rise in the previous month, boosted by higher sales of crude oil (64 percent to NZD 122 million); preparations of milk, cereals, flour and starch (35.4 percent to NZD 205 million); milk powder, butter & cheese (27.6 percent to NZD 920 million); and meat & edible offal (27.3 percent to NZD 458 million). In contrast, sales of fruit declined 19.1 percent to NZD 277 million; and those of logs, wood, and wood articles fell 13.8 percent to NZD 395 million. 

By destination, exports went up to China (23.3 percent) and the US (6.3 percent), but fell to South Korea (-19.2 percent), Japan (-14.9 percent), Australia (-4.8 percent) and the EU (-2.1 percent). 

Imports fell 2.1 percent to NZD 5710 million, following a 3.0 percent gain in August, mainly due to lower purchases of petroleum & products (-33.9 percent to NZD 492 million) and aircraft and parts (-47.7 percent to NZD 170 million). On the other hand, sales advanced for mechanical machinery and equipment (18.4 percent to NZD 843 million); textiles (10.9 percent to NZD 262 million); and vehicles (7.5 percent to NZD 810 million).

Among major trading partners, imports rose from Japan (18.1 percent), China (5 percent) and the EU (15 percent), while declined from the US (-25.8 percent) and Australia (-6.5 percent). 

New Zealand Trade Gap Narrows in September