Wednesday, 24 July 2013 13:44

Dairy and meat exports lead fall in June quarter

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The seasonally adjusted value of exported goods fell 4.7 percent to $11.0 billion in the June 2013 quarter, Statistics New Zealand said today.

 

This follows a rise of 0.4 percent in the March 2013 quarter.

"Dairy and meat exports led the fall, with values and quantities down for both," industry and labour statistics manager Louise Holmes-Oliver said.
Milk powder, butter, and cheese values fell 6.8 percent, and quantities fell 18 percent. Meat values fell 9.2 percent, and quantities fell 12 percent.
The seasonally adjusted value of imported goods increased 1.0 percent to $11.6 billion in the June 2013 quarter.

The seasonally adjusted trade balance for the June 2013 quarter was a deficit of $669 million, equivalent to 6.1 percent of exports. This follows a $14 million deficit for the March 2013 quarter.

For the June 2013 month, export values decreased $161 million (3.9 percent) compared with June 2012, and imports decreased $286 million (7.4 percent).

The trade balance for the June 2013 month was a surplus of $414 million (10 percent of exports).

For the year ended June 2013, goods exports were down $970 million, to $45.7 billion. Exports to Australia fell $927 million, while exports to China rose $1.6 billion. Imports for the June 2013 year fell $956 million, to $46.5 billion. The trade balance for the year ended June 2013 was a deficit of $777 million.

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