June quarter exports flat

By NZPA

Monday 5th August 2002

New Zealand's June quarter export figures remain unchanged on the previous quarter, Statistics New Zealand said today.

Seasonally adjusted figures for exports in the June quarter were $8.071 billion, exactly the same as March.

Statistics NZ said today that while export values for casein were up during the quarter, they were offset by milk powder, butter and cheese values. The average dairy export price has returned to the level of around two years ago.

The updated figure for exports in the June month is $2.613 billion, a slight decrease on the early estimate of $2.63 billion last month.

Provisional imports for the June month are $2.337 million, giving a trade surplus of $277 million, or 10.6 percent of exports, the highest percentage for a June month since 1994.

On a monthly basis, the trade balance has shown a surplus since October 2000.

For the year to June, exports were up by 1 percent or $32.3 billion, giving a trade surplus of $463 million. That compared with a surplus of $73 million for the previous June year.

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