27 Oct 2012

Trade surplus recorded in September quarter

7:49 am on 27 October 2012

A rise in dairy exports has helped the country record a trade surplus for the three months to September.

Statistics New Zealand figures show a seasonally adjusted surplus of $147 million for the September quarter.

Exports rose 5% and imports fell 1%.

Trade deficits had been recorded in the previous two quarters.

For September alone, however, a fall in exports and imports led to a trade deficit of $791 million.

Exports fell nearly 4% during the month, in line with usual seasonal fluctuations, outweighing a 3% fall in imports.

Once adjusted for seasonal factors, exports actually rose 6% contributing to a smaller trade deficit of $82 million dollars.

Exports of dairy products fell 20% in September, but sales of meat, crude oil and wine all rose.