Imports of capital goods for February were down $29 million or 3.9% due to transport equipment
The fall was partly offset by a rise in cell phone imports, up $18 million. Imports of cellphones from China increased $9.8 million.
In February 2016 goods exports were valued at $4.0 billion, up $96 million (2.5%) when compared with February 2015, according to Statistics New Zealand.
This figure excludes the export of a large drilling platform. Including the platform, exports rose $363 million (9.3%) to $4.2 billion.
“Export results were mixed in February 2016, with many commodities increasing in value,” says international statistics senior manager Stuart Jones.
“But falls for some of our most important products, including beef, lamb, and milk powder meant that the rise was limited.”
This month saw increases for a range of commodities, including fish, crustaceans, and molluscs (up 23%), and wine (up 34%).
Annual values of fish, crustaceans, and molluscs have been rising since the year-ended November 2014 while annual values of wine have been rising since the year-ended April 2003.
Other primary produce exports had mixed results.
Milk fats (including butter) and cheese both had increases in value and quantity while other components, including milk powder, fell in value (amount showed little change). Beef and lamb exports both fell in value, with the supply of beef falling 7.8% and the volume of lamb rising 4.6%.
Imports rose $108 million (2.8%) to $3.9 billion in February 2016, compared with February 2015.
Consumption goods led the rise, up $121 million (12%), with the largest increases being pharmaceuticals, toys, and sporting equipment.
Since September 2014, monthly values of consumption goods have been rising when compared with the same month of the previous year
Intermediate goods imports showed little change in February 2016, however excluding a fall in crude oil (down $11 million), intermediate goods rose $20 million (1.4%).
In February 2016, there was a goods trade surplus of $72 million (1.8% of exports).
Including the drilling platform, the goods trade surplus was $339 million (8.0% of exports). This number compares with an average surplus of 8.6% of exports for the previous five February months.
