Dairy and meat lead increase in exports

The seasonally adjusted value of exported goods increased 4.5 percent ($521 million) to $12.2 billion in
the June 2011 quarter, Statistics New Zealand said today. “Dairy products and meat contributed nearly 80
percent of the total increase in export values,” overseas trade manager Stuart Jones said.

The total value of imported goods, after adjusting for seasonal effects, decreased 1.0 percent to $11.8
billion in the June 2011 quarter, led by a 20 percent decrease in capital goods. The fall in capital goods
was led by transport equipment, down 58 percent ($416 million).

The March and June 2011 quarters both included one-off imports of aircraft and parts. Excluding these,
the value of goods imported increased 1.0 percent in the June 2011 quarter compared with the March
2011 quarter.

The seasonally adjusted trade balance for the June 2011 quarter was a surplus of $362 million,
equivalent to 3.0 percent of exports. Excluding the one-off importation of aircraft and parts in May, the
June 2011 quarter had a seasonally adjusted trade surplus of $577 million (4.7 percent of exports).
For the June 2011 month, exports increased $176 million (4.7 percent) compared with June 2010, while
imports increased $167 million (4.7 percent). The trade balance for the June 2011 month was a surplus of
$230 million (5.8 percent of exports). This compares with an average deficit of 7.2 percent of exports over
the preceding five June months, though there was a surplus of $221 million in 2010