Exports fall for second quarter

The seasonally adjusted value of exported goods fell 1.6 percent in the June 2012 quarter, Statistics New Zealand said today. This follows a fall of 5.9 percent in the March 2012 quarter.

"Seasonally adjusted dairy exports fell 5.7 percent," industry and labour statistics manager Neil Kelly said.

"Dairy products typically have the largest influence on total exports, and the June 2012 quarter is no exception."

The seasonally adjusted value of imported goods decreased 1.9 percent in the June 2012 quarter. This was led by intermediate goods, primarily due to crude oil. Partly offsetting this decrease was a rise in petrol and avgas imports.

The export trend has fallen for the latest three quarters, from a record high in the September 2011 quarter.

Values of imported goods have been steadily increasing since a recent low in the September 2009 quarter.

The seasonally adjusted trade balance for the June 2012 quarter was a deficit of $664 million, equivalent to 5.9 percent of exports. This follows a $708 million deficit for the March 2012 quarter.

For the June 2012 month, export values increased $244 million (6.2 percent) compared with June 2011, and imports increased $114 million (3.0 percent).

The trade balance for the June 2012 month was a surplus of $331 million (7.9 percent of exports). This compares with an average deficit of 4.8 percent of exports over the previous five June months.

See also:  Overseas Merchandise Trade: June 2012  –  Information release