Dairy Boosts Export Growth

Overseas Merchandise Trade (Exports): May 2001

The updated value of merchandise exports for the year ended May 2001 is $31,541 million, according to latest figures released by Statistics New Zealand. This is an increase of 24 per cent from the previous May year. The annual increase from dairy exports (milk powder, butter, cheese, casein and caseinates) was $2,225 million, which accounted for 36 per cent of the total annual increase in exports.

The value of merchandise exports for May 2001 has been updated to $3,233 million. This is $13 million more than the early estimate released on 28 June 2001. The monthly surplus of $665 million is 21 per cent of the value of exports for the month. However, surpluses of more than 20 per cent of exports have occurred in four of the 10 previous May months. The value of merchandise imports for May 2001 was $2,568 million.

The trend in the trade balance is rising, with stronger growth in exports than imports, following a period of little change.

The updated merchandise trade balance for the year ended May 2001 is a deficit of $186 million. This compares with a deficit for the previous May year of $3,340 million (which included $631 million for the import of the frigate HMNZS Te Mana).

Overseas merchandise trade statistics are provisional for three months to allow for the inclusion of new and amended information.

Brian Pink Government Statistician

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