FOREX TradingCharts.com

Financial News: New Zealand Trade Surplus NZ$17 Million

New Zealand Trade Surplus NZ$17 Million

01/27/2021 - 17:50:00 (RTTNews)

(RTTNews) - New Zealand posted a merchandise trade surplus of NZ$17 million in December, Statistics New Zealand said on Thursday - following the NZ$252 million surplus in November.

Exports fell NZ$149 million or 2.7 percent on year to NZ$5.35 billion.

New Zealand's biggest goods export, dairy products, fell NZ$377 million (19 percent) in December.

"Dairy export values and volumes both fell in December, compared with the same month a year before," international trade manager Alasdair Allen said.

Leading the total falls in December were milk powder, down NZ$227 million, butter, down NZ$62 million, and milk fats, down NZ$51 million on the same month in 2019.

"The drop in dairy exports was mainly due to a fall in sales to New Zealand's biggest export market, China," Allen said.

Total dairy exports to China fell NZ$194 million (21 percent) to NZ$740 million in December. This was led by falls in milk powder, down NZ$113 million.

Imports rose NZ$213 million or 4.2 percent on year to NZ$5.33 billion.

Car imports were up NZ$106 million in December 2020 compared with December 2019.

Imports of electrical and machinery products were up NZ$90 million, and iron and steel up NZ$41 million in December.

"Monthly car imports fell sharply early in 2020 when Covid-19 first hit, but values have bounced back to more typical levels," Allen said.

For the fourth quarter of 2020, exports were up 0.4 percent on quarter to NZ$15 billion and imports were up 4.7 percent on quarter to NZ$14 billion for a trade surplus of NZ$412 million.

For all of 2020, exports added 0.04 percent on year to NZ$60 billion and imports fell 11 percent on year to NZ$57 billion for a surplus of NZ$2.9 billion.

Imports of petroleum and products fell NZ$2.4 billion in 2020, following Covid-19 travel restrictions.

Imports of vehicle, parts, and accessories also fell, by NZ$2.1 billion. With little international travel, demand for turbojets and turbo-propellers fell, with imports of mechanical machinery and equipment down NZ$1.1 billion.

Exports of breathing equipment (respiratory equipment) were up NZ$526 million, due to high demand during the Covid-19 pandemic. Fruit exports rose NZ$525 million, driven by higher volumes and prices for kiwifruit.

Aircraft and parts rose NZ$435 million, as planes were sent to the United States for storage, during the slump in international travel. Preparations of cereals, flour, and starch, were up NZ$204 million, driven by infant formula.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Ireland GDP Falls In Q4 (08 hr(s), 10 min(s), 15 sec(s) ago)
(RTTNews) - Ireland's economy shrunk in the fourth quarter of 2020 due to a weaker performance ...Full Story»

U.S. Trade Deficit Widens In January As Imports Rise More Than Exports (09 hr(s), 59 min(s), 15 sec(s) ago)
(RTTNews) - With imports increasing by slightly more than exports, a report released by the Commer ...Full Story»

U.S. Job Growth Far Exceeds Estimates In February (10 hr(s), 13 min(s), 15 sec(s) ago)
(RTTNews) - Reflecting a significant rebound in employment in the leisure and hospitality industry ...Full Story»

U.S. Trade Deficit Exceeds Estimates In January (10 hr(s), 55 min(s), 15 sec(s) ago)
(RTTNews) - With imports increasing by slightly more than exports, a report released by the Commer ...Full Story»

U.S. Employment Jumps Much More Than Expected In February (11 hr(s), 0 min(s),15 sec(s) ago)
(RTTNews) - Reflecting a significant rebound in employment in the leisure and hospitality industry ...Full Story»

German Plant & Machinery Orders Decline In January: VDMA (11 hr(s), 40 min(s), 15 sec(s) ago)
(RTTNews) - German manufacturers received less orders for plant and machinery in January compared ...Full Story»

France's Current Account Gap Widens In January (13 hr(s), 13 min(s), 15 sec(s) ago)
(RTTNews) - France's current account deficit widened in January largely due to the fall in the ...Full Story»

Italy Retail Sales Fall In January (13 hr(s), 26 min(s), 15 sec(s) ago)
(RTTNews) - Italy's retail sales declined in January after rising in the previous month, data ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Ireland GDP Falls In Q4

03/05/2021 - 11:28 AM (RTTNews)
(RTTNews) - Ireland's economy shrunk in the fourth quarter of 2020 due to a weaker performance ...Full Story>>

U.S. Trade Deficit Widens In January As Imports Rise More Than Exports

03/05/2021 - 09:39 AM (RTTNews)
(RTTNews) - With imports increasing by slightly more than exports, a report released by the Commer ...Full Story>>

U.S. Job Growth Far Exceeds Estimates In February

03/05/2021 - 09:25 AM (RTTNews)
(RTTNews) - Reflecting a significant rebound in employment in the leisure and hospitality industry ...Full Story>>

U.S. Trade Deficit Exceeds Estimates In January

03/05/2021 - 08:43 AM (RTTNews)
(RTTNews) - With imports increasing by slightly more than exports, a report released by the Commer ...Full Story>>

U.S. Employment Jumps Much More Than Expected In February

03/05/2021 - 08:38 AM (RTTNews)
(RTTNews) - Reflecting a significant rebound in employment in the leisure and hospitality industry ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.