Overseas Merchandise Trade: March 2009

March 2009 quarter:

Values are seasonally adjusted and compared with the December 2008 quarter unless otherwise stated.

• Exports decreased 4.0 percent to $10.8 billion.
• Despite increased quantities, over half of the exports decrease was due to lower prices for milk powder, butter and cheese.
• Imports decreased 12.8 percent to $10.9 billion.
• Imports of intermediate goods showed significant decreases, led by crude oil.
• As a percentage of exports (0.6 percent), the trade balance was the smallest deficit since the June 2002 quarter.

March 2009 month:

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

• Exports were valued at $4.0 billion, up $607 million or 17.7 percent.
• Aircraft and parts, and meat and edible offal were among the more notable export increases.
• Imports increased 6.9 percent, led by mechanical and electrical machinery and equipment.
• The trade balance was a surplus of $324 million (8.0 percent of exports).