Milk powder exports boost trade surplus

JAMES WEIR
Last updated 11:21 31/01/2014

Relevant offers

Industries

The biosecurity threats to the New Zealand economy Hamilton's Park International Country Club for sale Huka Lodge owner loses multimillion dollar lawsuit Making buildings accessible to all Hellaby boss to step down Air New Zealand to add more than 650,000 domestic seats Wellington Airport returns at 'acceptable' levels Lucy Lawless film new show in Auckland Wellington needs a runway extension: Property Council Auckland company fined after employee crushed by truck

New Zealand ran a trade surplus of $523 million in December, as exports to China boomed, especially for milk powder.

For December 2013, total exports jumped $658 million (16 per cent) compared with the same month last year.

Imports were up even more, rising $669 million (19 per cent).

The trade balance for December was a surplus of $523 million (11 per cent of exports).

That topped off a stellar year for exports, led by milk powder sales to the booming China market.

For the full calendar year, export goods jumped $2 billion to $48.1b in total, with most of the increase from milk powder, Statistics NZ industry and labour statistics manager Louise Holmes-Oliver said.

"Almost half of our milk powder exports went to China."

In the year, New Zealand sent $10b worth of goods to China, including $4b of milk powder, a record level.

"China became our top annual export destination in 2013, a spot Australia had held since the year ended September 1989," Holmes-Oliver said. "For imports, China's been our main partner since December 2011."

Total imports for the December 2013 year were up $1.1b, to $48.3b.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content