Statistics show trade surplus

Press, 22 February 1982, Page 6

Statistics show trade surplus

PA Wellington New Zealand had a trade surplus in January for the first time in eight months, according to Statistics Department figures released last evening. The provisional figures show a surplus of $27.9 million compared with a S72M trade deficit in December. Exports in January were worth $522.3M and imports $494.4M.

The surplus was the first since last June, when there was a monthly trade surplus of $14.2M. In the . months which followed, imports cost more than exports earned with the biggest deficit $113.1M in September. The January surplus represents a $63.2M turn-round on January last year when imports of $416.5M exceeded the value of exports by $35.3M.

The trade figures refer only to the f.o.b. value of exports and c.i.f. cost of imports and do not take into account invisibles such as overseas borrowing costs. In the seven months to January 30, there was a deterioration in the terms of external trade compared with the corresponding seven months of 1980-81. There was a trade deficit of $385.8M in the latest

seven-month period compared with a deficit of $220.4M in the seven months to January 30, 1981. The Government Statistician, Dr J. H. Darwin, said the figures were provisional and subject to later revision. The external trade figures for the trade year to June 30 last year show a surplus of $41.6M, exports earning $6065.3M and imports costing $6023.6M.