The value of goods exported reached a new high of $4.2 billion in May 2010, up $238 million (6.0 percent) from May 2009, Statistics New Zealand said today.
"This is only the third time that monthly exports have exceeded $4 billion," business statistics manager Louise Holmes-Oliver said. “Unsweetened whole milk powder and crude oil were the major contributors to the increase in exports.”
The trend for goods exported is now at a similar level to its peak in November 2008. The trend has risen 15.2 percent since September 2009, following a 10-month decline.
The value of goods imported in May 2010 was $3.4 billion, up $330 million (10.8 percent) from May 2009.
Petroleum and products, and vehicles, parts, and accessories were the leading contributors to this increase.
The trade balance was a surplus of $814 million, or 19.4 percent of the value of exports, in May 2010. This compares with an average May trade surplus of 9.3 percent of exports for the previous 10 years.