Overseas Merchandise Trade: January 2009

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

• Merchandise exports were valued at $3.2 billion, up $92 million (3.0 percent).
• Preparations of cereals, flour and starch (up $52 million or 107 percent) led the increase for exports followed by casein and caseinates (up $50 million or 53.3 percent); and meat and edible offal (up $44 million or 10.2 percent).
• Merchandise imports were valued at $3.4 billion, down $32 million (0.9 percent).
• This is the first fall in imports, month on same month previous year, since August 2007.
• The decrease in imports was led by passenger motor cars (down $105 million) partly offset by a $91 million increase in petroleum and products.
• The monthly trade balance was a deficit of $187 million – as a percentage of exports (5.9 percent) the smallest deficit for a January month since 2001.