MNI: New Zealand's Exports Touch Record High On Dairy Products

--China Remains New Zealand's Top Export Market

     SYDNEY (MNI) -  - New Zealand's exports reached a new high in December due

to record values of dairy products which also pushed exports to a record high in

2017 and contributed to a narrowing in trade deficit during the year.

     Data published by Statistics New Zealand Tuesday showed exports rose to a

record NZ$5.6 billion in December, thanks to a 30% y/y increase in values of

dairy products. Trade balance for December was a surplus of NZ$640 million which

was a big turnaround from NZ$1.2 billion deficit in November. Overall, trade

deficit for the 2017 year was NZ$2.8 billion compared with a NZ$3.1 billion

deficit in 2016.

     The data showed China remained the country's top export market for the

fifth straight year, after overtaking Australia in 2013. China was also New

Zealand's top trading partner with a 22% share of total exports and 19% share of

total imports.

     From Overseas Merchandise Trade data for December published by Statistics

New Zealand Tuesday: 

                              December        November

------------------------------------------------------

                        (in NZ dollar)  (in NZ dollar)

Trade Balance             +640 million   -1.23 billion

Exports                   5.55 billion    4.61 billion

Imports                   4.91 billion    5.84 billion

Trade Balance - Annual    -2.8 billion    -3.5 billion

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

[TOPICS: MTABLE,MANDS$,MMNRB$,M$A$$$,M$N$$$]