25 Aug 2012

Milk powder drives rise in export value

11:00 am on 25 August 2012

Milk powder exports drove an 8% increase in the value of exports last month compared with July last year.

Statistics New Zealand says the value of exported goods rose by almost $300 million.

Most major export commodities fell, compared with the previous month, but that was offset by the price of milk powder, as well as butter and cheese, which rose 20%.

Statistics New Zealand says the value of imports also rose last month, by 11% compared with the previous year, reducing the trade surplus from more than $100 million in July last year to $15 million.