Overseas Merchandise Trade: December 2011

December 2011 quarter:

Values are seasonally adjusted and compared with the September 2011 quarter unless otherwise stated.

• Exports were up 4.3 percent to $12.3 billion.
• This increase was led by a record-high value for milk powder, butter, and cheese exports.
• The trend for exports remains at a record high level.
• Imports were up 1.3 percent to $11.6 billion.
• The trend for imports is 6.4 percent lower than its peak in the September 2008 quarter. 
• There was a trade surplus of $698 million (5.7 percent of exports).

December 2011 month:

Values are actual and compared with the December 2010 month unless otherwise stated.

• Exports were up $491 million (13 percent) to $4.3 billion.
• Milk powder, butter, and cheese recorded the largest increase, up $329 million.
• Imports were down $65 million (1.6 percent) to $4.0 billion.
• There was a trade surplus of $338 million (7.8 percent of exports).