WELLINGTON, Nov 29 (Reuters) - New Zealand's annual trade
surplus widened in October driven by strong dairy exports, data
showed on Monday.
The surplus for the year to October 31 was NZ$1.18 billion ($887 million), compared with a revised surplus in the year to September of NZ$993 million from the originally published NZ$921 million, Statistics NZ said.
For the month of October the trade deficit was NZ$319 million, the fourth monthly deficit in a row from a downwardly revised deficit of NZ$457 million the month before.
A Reuters poll forecast a surplus of NZ$1 billion for the year to October and a monthly deficit of NZ$438 million.
Exports were up 25 percent from a year ago on the back of higher dairy, aluminium, logs and wood sales.
Imports were 15.6 percent higher than a year ago, due to rises in petrol and oil products, machinery, and vehicles.
The monthly trade deficit was the equivalent of 8.7 percent of exports.
The trade weighted New Zealand dollar was flat during the month, and was 0.3 percent higher than a year ago. A rise in the currency would usually decrease export returns but lower import costs.
Monthly series: (NZ$) (Revised from figures in brackets)
Oct 2010 Pvs month Year ago
Balance -319 mln -457 mln (-532 mln) -501 mln
Exports 3.68 bln 3.17 bln 2.96 bln
Imports 3.99 bln 3.63 bln (3.69 bln) 3.46 bln
Yearly series: (NZ$)
Yr-to-Oct Yr-to-Sept Yr-to-Oct'09
Balance +1.18 bln +0.99 bln (+0.92 bln) -1.18 bln
Exports 42.53 bln 41.80 bln 40.72 bln
Imports 41.35 bln 40.88 bln 41.90 bln
Note: November month trade data will be released on Jan. 10.
($1=NZ$1.33)
((Wellington newsroom tel +64 4 471 4234, fax +64 4 473 6212 wellington.newsroom@thomsonreuters.com)) Keywords: NEWZEALAND ECONOMY/TRADE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The surplus for the year to October 31 was NZ$1.18 billion ($887 million), compared with a revised surplus in the year to September of NZ$993 million from the originally published NZ$921 million, Statistics NZ said.
For the month of October the trade deficit was NZ$319 million, the fourth monthly deficit in a row from a downwardly revised deficit of NZ$457 million the month before.
A Reuters poll forecast a surplus of NZ$1 billion for the year to October and a monthly deficit of NZ$438 million.
Exports were up 25 percent from a year ago on the back of higher dairy, aluminium, logs and wood sales.
Imports were 15.6 percent higher than a year ago, due to rises in petrol and oil products, machinery, and vehicles.
The monthly trade deficit was the equivalent of 8.7 percent of exports.
The trade weighted New Zealand dollar was flat during the month, and was 0.3 percent higher than a year ago. A rise in the currency would usually decrease export returns but lower import costs.
Monthly series: (NZ$) (Revised from figures in brackets)
Oct 2010 Pvs month Year ago
Balance -319 mln -457 mln (-532 mln) -501 mln
Exports 3.68 bln 3.17 bln 2.96 bln
Imports 3.99 bln 3.63 bln (3.69 bln) 3.46 bln
Yearly series: (NZ$)
Yr-to-Oct Yr-to-Sept Yr-to-Oct'09
Balance +1.18 bln +0.99 bln (+0.92 bln) -1.18 bln
Exports 42.53 bln 41.80 bln 40.72 bln
Imports 41.35 bln 40.88 bln 41.90 bln
Note: November month trade data will be released on Jan. 10.
($1=NZ$1.33)
((Wellington newsroom tel +64 4 471 4234, fax +64 4 473 6212 wellington.newsroom@thomsonreuters.com)) Keywords: NEWZEALAND ECONOMY/TRADE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.