Overseas Merchandise Trade: February 2009

For the month of February 2009 compared with February 2008 unless otherwise stated:

• Merchandise exports were valued at $3.5 billion, down $243 million (6.6 percent) – the first fall in exports since August 2007.
• Milk powder, butter and cheese led the decrease, down $288 million (28.0 percent).
• Merchandise imports were valued at $3.0 billion, down $490 million (14.2 percent).
• Petroleum and products led the imports decrease, down $259 million (46.5 percent).
• The imports trend has been falling steeply since September 2008.
• The trade balance was a surplus of $489 million, or 14.2 percent of exports - the largest February surplus since 2001.