China becomes NZ top export destination

WELLINGTON - China overtook Australia to become New Zealand's biggest export destination for the first time in the quarter to the end of March, the New Zealand government statistics announced Friday.

Overseas merchandise trade figures for the March quarter showed goods exported to China were valued at NZ$2.3 billion ($1.95 billion), while exports to Australia were valued at NZ$2.2 billion, according to Statistics New Zealand.

January was the first month in which exports to China had surpassed exports to Australia and that continued for every month of the quarter.

"Twenty percent of goods exported from New Zealand went to China in the March 2013 quarter," industry and labor statistics manager Louise Holmes-Oliver said in a statement.

"This compares with 15 percent in the same quarter last year."

The value of exports to China was up 32 percent from the previous quarter, while those to Australia were down 7.3 percent.

China and Australia were also the top two countries of origin for New Zealand imports, with imports from China up 2.8 percent to NZ$1.8 billion and those from Australia down 5.3 percent to NZ$1.5 billion.

The value of total exported goods rose 0.8 percent in the March quarter, following a fall of 2.9 percent in the December 2012 quarter.

Milk powder, butter, and cheese led the increase in the March quarter, with values up 3.5 percent and quantities up 3.6 percent.

The value of imported goods fell by 0.2 percent in the March 2013 quarter, following a 1.6 percent fall in the December 2012 quarter, resulting in a trade surplus of NZ$52 million, equivalent to 0.4 percent of exports, following a deficit of NZ$59 million in the December 2012 quarter.