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Financial News: New Zealand April Trade Surplus NZ$433 Million

New Zealand April Trade Surplus NZ$433 Million

05/23/2019 - 19:25:00 (RTTNews)

(RTTNews) - New Zealand posted a merchandise trade surplus of NZ$433 million in April, Statistics Mew Zealand said on Friday.

That beat expectations for a surplus of NZ$400 million following the downwardly revised NZ$824 million surplus in March (originally NZ$922 million).

Exports were up NZ$581 million or 12.0 percent on year to NZ$5.55 billion, topping expectations for NZ$5.35 billion and down from the downwardly revised NZ$5.60 billion in the previous month (originally NZ$5.70 billion).

Milk powder, butter, and cheese led the export rise, up NZ$124 million (11 percent) to NZ$1.3 billion. Milk powder was up NZ$137 million in value (25 percent) to reach NZ$697 million and 19 percent in quantity.

Other notable movements in the milk powder, butter, and cheese commodity group were: fresh milk and cream, up NZ$29 million (61 percent) in value, and up 31 percent in quantity; and milk fats (including butter) fell NZ$60 million (18 percent) in value, down 9.0 percent in quantity.

Untreated logs rose NZ$71 million (26 percent), up 18 percent in quantity. Fruit rose NZ$62 million (11 percent) to NZ$612 million.

Imports rose NZ$348 million or an annual 7.3 percent to NZ$5.11 billion versus forecasts for NZ$4.90 billion and up from NZ$4.78 billion a month earlier.

Aircraft and parts led the imports rise, up NZ$138 million (231 percent) to NZ$197 million. Imports of aircraft and parts are irregular and can mean large rises or falls in monthly values.

Other significant rises include: electrical machinery and equipment (up NZ$82 million); aluminum oxide (up NZ$35 million); and palm oil cake - dairy cattle supplementary feed (up NZ$30 million).

On a yearly basis, annual goods imports were NZ$64.4 billion, while annual goods exports were NZ$59.0 billion for an annual trade deficit of NZ$5.5 billion.

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