Stats NZ

Overseas merchandise trade: January 2018

Overseas merchandise trade statistics provide information on imports and exports of merchandise goods between New Zealand and other countries.

Key facts

This release refers to trade in goods only.

January 2018 monthly values are actual and compared with January 2017.

Exports rise 9.5 percent for the month

Goods exports rose $373 million (9.5 percent) to $4.3 billion in January 2018. This was a new high for a January month, exceeding the previous high of $4.1 billion in January 2014. This record follows on from the all-time high of $5.5 billion for December 2017.

Milk powder, butter, and cheese led the rise, up $101 million (8.0 percent) to $1.4 billion.

  • Milk powder rose $61 million (8.7 percent); the quantity rose 9.7 percent.
  • Dairy fats (including butter) rose $21 million (7.5 percent); the quantity fell 21 percent.
Created with Highcharts 5.0.14CountryMovement ($)Largest movements of milk powder, butter, and cheese export values, January 2018 compared with January 2017AlgeriaPeruIranAustraliaPhilippinesChina-25M-20M-15M-10M-5M05M10M15M20M25M30M35M40M45M50M55M60M65M70MStats NZ

Largest movements of milk powder, butter, and cheese export values, January 2018 compared with January 2017

Created with Highcharts 5.0.14Movement ($)Largest movements of milk powder, butter, and cheese export values, January 2018 compared with January 2017Movement ($)AlgeriaPeruIranAustraliaPhilippinesChina-25M-20M-15M-10M-5M05M10M15M20M25M30M35M40M45M50M55M60M65M70MStats NZ
CountryMovement ($)
Algeria69,015,050
Peru31,749,729
Iran25,373,921
Australia17,662,089
Philippines-16,284,709
China-20,776,985

Meat and edible offal rose $100 million (17 percent) to $689 million. This was led by lamb – up $58 million (26 percent), and beef – up $21 million (8.4 percent). Exports of lamb to the EU, and sheepmeat (including lamb and mutton) to China, rose.

Logs, wood, and wood articles rose $59 million (25 percent) to $292 million.

Preparations of milk, cereals, flour, and starch rose $53 million (69 percent). This group includes infant formula.

Crude oil exports fell $65 million to almost zero. The timing of shipments can affect the quantity exported. The last time there were no exports of crude oil in a month was in November 2006.

Created with Highcharts 5.0.14Trade partnerMovement ($)Top export trade partner movements, January 2018 compared with January 2017ChinaAustraliaUnited States of AmericaEuropean UnionJapanKorea, Republic of-20M-15M-10M-5M05M10M15M20M25M30M35M40M45M50M55M60M65M70MStats NZ

Top export trade partner movements, January 2018 compared with January 2017

Created with Highcharts 5.0.14Movement ($)Top export trade partner movements, January 2018 compared with January 2017Movement ($)ChinaAustraliaUnited States of AmericaEuropean UnionJapanKorea, Republic of-20M-15M-10M-5M05M10M15M20M25M30M35M40M45M50M55M60M65M70MStats NZ
Trade partnerMovement ($)
China-17,712,009
Australia28,361,696
United States of America-6,179,836
European Union66,977,558
Japan53,331,959
Korea, Republic of36,790,451

Exports to China fell $18 million, compared with January 2017. This is the first fall since the July 2016 month. Values for the year ended January 2018 were still 25 percent higher than the year ended January 2017.

Imports rise $713 million from January 2017

Goods imports rose $713 million (17 percent) to $4.9 billion in January 2018.

The largest changes in import values were:

  • Mechanical machinery and equipment, which led the rise – up $133 million (23 percent) to $700 million. The increase was across a range of commodities, including turbo-jets and food processing machinery.
  • Petroleum and products rose $88 million, led by diesel (up $57 million) and motor spirit (up $24 million). Imports of these products from the Republic of Korea rose $113 million, led by diesel.
  • Ships, boats, and floating structures rose $78 million.
  • Vehicles, parts, and accessories (our largest import commodity group) rose $42 million (6.8 percent) to $659 million:
    • Tractors rose $27 million (191 percent).
    • Passenger motor cars rose $3.8 million (1.0 percent).
    • Goods vehicles showed little change.
Created with Highcharts 5.0.14Trade partnerMovement ($)Top import trade partner movements, January 2018 compared with January 2017ChinaEuropean UnionAustraliaUnited States of AmericaJapanThailandKorea, Republic of-20M020M40M60M80M100M120M140M160M180M200M-40MStats NZ

Top import trade partner movements, January 2018 compared with January 2017

Created with Highcharts 5.0.14Movement ($)Top import trade partner movements, January 2018 compared with January 2017Movement ($)ChinaEuropean UnionAustraliaUnited States of AmericaJapanThailandKorea, Republic of-30M-20M-10M010M20M30M40M50M60M70M80M90M100M110M120M130M140M150M160M170M180M190M2…200MStats NZ
Trade partnerMovement ($)
China117,025,698
European Union194,652,573
Australia58,100,318
United States of America46,788,702
Japan-26,527,140
Thailand3,704,099
Korea, Republic of191,205,689

Trade deficit in January 2018

The monthly trade balance was a deficit of $566 million (13 percent of exports).

The annual trade deficit was $3.2 billion in January 2018, up from $2.9 billion in December 2017, and down from $3.4 billion in January 2017.

Datasets and more information

Overseas merchandise trade datasets has CSV data for goods imports and exports.

Goods and services trade by country: Year ended September 2017 has information on trade in goods and services.

Revisions

We have updated provisional values published on 30 January 2018. Goods trade statistics for the latest three months are provisional so we can include late data and amendments.

  Published on 30 January 2018 Published on 27 February 2018 Change
$(million)(1)
  Exports (fob) Imports (cif) Balance (fob-cif) Exports (fob) Imports (cif) Balance (fob-cif) Exports (fob) Imports (cif) Balance (fob-cif)
Month:                  
Oct 2017 4,555 P   5,397 P  -841 P  4,556 F  5,396 F  -840 F  1  -1  2
Nov 2017 4,606 P   5,839 P  -1,233 P  4,603 P  5,835 P  -1,232 P -3  -3 
Dec 2017 5,551 P   4,911 P  640 P  5,490 P  4,894 P  596 P -61  -17  -44 
Year ended:                  
Oct 2017 51,791 P   54,759 P  -2,969 P  51,792 F  54,759 F  -2,967 F -1 
Nov 2017 52,525 P   56,003 P  -3,478 P  52,523 P  55,999 P  -3,476 P -2  -4 
Dec 2017 53,660 P   56,497 P  -2,837 P  53,597 P  56,476 P  -2,879 P -63  -21  -42 

1. Figures are calculated on unrounded data.
Symbols: F final, P provisional
Source: Stats NZ

 

ISSN 1178-0320

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