MNI New Zealand Posts Record Exports, Imports For May Month

--Trade Surplus NZ$294 Million in May

By Sophia Rodrigues

     SYDNEY (MNI) - New Zealand overseas trade made a new record in May, thanks

to a jump in lamb exports and a rise in vehicle and parts imports. Both exports

and imports posted a new high for a May month.

     Data published by Statistics New Zealand Tuesday showed the trade balance

recorded a surplus of NZ$294 million in May, compared with surplus of NZ$193

million in April and NZ$62 million in the same month last year.

     Exports rose 10.4% y/y to NZ$5.4 billion, the highest for a May month and

second-highest on record that is very close to the record NZ$5.5 billion of

December 2017.

     Imports rose 5.7% y/y to NZ$5.1 billion.

     Exports were led higher by a rise in meat and edible offal, which rose 17%

to NZ$812 million. Lamb exports were up 32% or NZ$89 million.  

     Imports rose due to a 25% or NZ$185 million surge in vehicle and parts

imports, largely due to a NZ$78 million in motor vehicle and NZ$55 million rise

in trucks and vans.

     China remained New Zealand's top destination for exports, up 27% to NZ$1.2

billion due mainly to rise in meal and edible offal, and logs. 

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

[TOPICS: MANDA$,MANDS$,MMNRB$,M$A$$$,M$N$$$,MT$$$$]