Overseas Merchandise Trade: November 2009

For the month of November 2009 compared with November 2008 unless otherwise stated:

• Merchandise exports were valued at $3.1 billion, down $614 million (16.7 percent).
• The fall in exports was widespread with milk powder, butter, and cheese; and casein and caseinates being the most significant contributors.
• The exports trend has been falling since October 2008, and is down 15.5 percent since then.
• Merchandise imports were valued at $3.3 billion, down $938 million (22.0 percent).
• The fall in imports was also widespread with mechanical machinery and equipment; and petroleum and products being the most significant contributors.
• The imports trend has declined 25.7 percent since August 2008, although the decline in the trend has eased in recent months.
• The trade balance was a deficit of $269 million, or 8.8 percent of exports; compared with an average November deficit of 27.6 percent of exports for the previous five years.