New Zealand’s exports, imports both up in OctoberNovember 24th, 2011 - 2:08 pm ICT by IANS
Wellington, Nov 24 (IANS) New Zealand’s exports and imports were both up in October, taking the annual trade balance to a surplus of 627 million NZ dollars ($465 million), the government statistics agency announced Thursday.
October exports increased by 195 million NZ dollars, or 5.3 percent from October last year, led by meat and crude oil, said a statement from Statistics New Zealand.
Imports rose by 257 million NZ dollars, or 6.6 percent, led by fertilizers and petroleum and products, reported Xinhua.
Statistics New Zealand said the October trade balance was normally in deficit, with an average deficit of 23 percent of exports for the previous five October months.
The deficit was only 7.3 percent of exports for October 2011.
The trend value for exports continued at record-high levels, said Statistics New Zealand’s industry and labor statistics manager Neil Kelly.
The trend value for imports, excluding one-off capital items, was up 25 percent since its most recent low point in September 2009, but was still 6.3 percent below its overall peak in September 2008.
Seasonally adjusted exports increased by 5.3 percent, or 209 million NZ dollars, in October 2011 compared with September 2011.
Seasonally adjusted imports decreased 2.1 percent, or 83 million NZ dollars, over the same period.
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