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Overseas Merchandise Trade: January 2017
Embargoed until 10:45am  –  28 February 2017
Key facts

For January 2017 compared with January 2016:

Goods exports rose $13 million (0.3 percent) to $3.9 billion.

  • Milk powder, butter, and cheese led the rise, up $55 million (4.5 percent).
  • Crude oil rose $34 million, with quantity up 33 percent.
  • Meat and edible offal rose $16 million (2.7 percent), led by a rise in lamb.
  • Logs, wood, and wood articles fell $9.7 million (4.0 percent). 
  • China and Australia were the only top export destinations to rise in value. 

Goods imports rose $311 million (8.0 percent) to $4.2 billion. 

  • The value for goods imports in January 2017 is the highest value for a January month.
  • Intermediate goods rose $123 million (7.2 percent).
  • Excluding crude oil, intermediate goods fell $23 million (1.5 percent). 
  • Capital goods rose $68 million (8.3 percent), led by machinery and plant.
  • Consumption goods rose $60 million (6.0 percent).
  • Japan saw the largest rise in value (up $92 million), while China and Australia showed little change.

The monthly trade balance was a deficit of $285 million (7.3 percent of exports). Excluding crude oil exports and imports, the trade balance was a deficit of $36 million (0.9 percent of exports).

The trade weighted index rose 9.2 percent from January 2016.

Graph, Merchandise trade values, January months, January 2008 to January 2017.

Liz MacPherson, Government Statistician
ISSN 1178-0320
28 February 2017

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