New Zealand December Trade balance: -41m (expected -98m, prior -705m)

New Zealand December Trade balance, deficit of 41m (BEAT)

• expected -98m, prior -705m

Exports 4.38bn BEAT

• expected 4.23bn, prior 3.86bn

Imports 4.42bn BEAT

• expected 4.34bn, prior 4.56bn

More (via Stats NZ):

For the 2016 year in total:

• New Zealand"s top two export commodities, meat and dairy, both fell by value in 2016


• Total value of all export goods was $48.4 billion for the year (down $544 million from the previous year and the the second annual fall in a row for exports)


• "The large fall in meat exports for 2016 reflects a decline from the record meat season in 2015 for both value and quantity," international statistics senior manager Nicola Growden


• "The quantity of milk powder, butter, and cheese exported rose to a new high of 3.0 million tonnes, despite a near 3 percent fall in the value of dairy exports to $11.2 billion"


• The quantity exported to China was 25 percent of the total in 2016, slightly up from 23 percent in 2015


• The value of imported goods was $51.6 billion in 2016, down $883 million (1.7 percent) from the high of the December 2015 year


• The fall was led by cheaper oil and petrol, and partly offset by a rise in cars, trucks, and parts


• In 2016 there was an annual trade deficit of $3.2 billion (6.6 percent of exports). This is smaller than the deficit of $3.5 billion for the December 2015 year. The trade shortfall in 2015 was the largest December year deficit since 2008.
  
   

New Zealand December Trade balance: -41m (expected -98m, prior -705m)
New Zealand December Trade balance: -41m (expected -98m, prior -705m)
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