Overseas Merchandise Trade: June 2009

 June 2009 quarter:

Values are seasonally adjusted and compared with the March 2009 quarter unless otherwise stated.

• Exports decreased 5.4 percent to $10.2 billion, the second consecutive quarterly decrease.
• The value of dairy products showed the largest decrease, despite quantities increasing significantly.
• Imports decreased 3.4 percent to $10.4 billion. Without one-off imports, this quarter's imports would have fallen 8.7 percent.
• Imports of intermediate goods made the largest contribution to the decrease.
• The trade balance was a deficit of $217 million (2.1 percent of exports).

 June 2009 month:

Values are actual and compared with the June 2008 month unless otherwise stated.

• Exports were valued at $3.2 billion, down $395 million or 11.0 percent.
• Crude oil, and milk powder, butter, and cheese were the largest export decreases.
• Imports were valued at $3.6 billion, down $192 million or 5.1 percent, despite the one-off import of several large aircraft valued at $571 million.
• The trade balance was a deficit of $417 million (13.1 percent of exports). With one-offs removed, the trade balance would have been a surplus of $154 million (4.8 percent of exports).