August 2010 export values were $405 million (15 percent) higher than August 2009, Statistics New Zealand said today. The total value of goods exported for August 2010 was $3.2 billion.
“As in recent months, dairy products were again the main contributor to the increase in export values, due to higher prices," overseas trade manager Stuart Jones said.
The trend for merchandise exports has risen 15 percent since September 2009, following a 10 month decline, and remains at a similar level to the previous peak in late 2008. The growth in the trend has tapered off in recent months.
The total value of goods imported for August 2010 was $3.6 billion, up $126 million (3.6 percent) from August 2009. Vehicle parts and accessories were the major contributor to this increase.
The trend for total merchandise imports rose strongly from October 2009 to May 2010 but has since flattened. The trend is still 15 percent lower than its peak in September 2008.
In August 2010, the trade balance was a deficit of $437 million, or 14 percent of the value of exports. The August trade balance is typically negative, and the deficit for August 2010 is half the average of the five August months before 2010.