Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Growth In Trade Deficit Slows

Growth In Trade Deficit Slows As Manufactured Exports Increase

Latest figures from Statistics New Zealand show strong growth in exports of non-food manufactured goods. This has led to the merchandise exports trend growing almost as quickly as the merchandise imports trend for the first three months of this year. As a result, expansion in the trade deficit has slowed. Seasonally adjusted exports of non-food manufactured goods increased by 12.7 per cent ($304 million) in the March 2000 quarter.

This was the main contributor to the seasonally adjusted increase of 5.9 per cent ($368 million) recorded for total merchandise exports for the March 2000 quarter. For the previous quarter the seasonally adjusted increase was 2.5 per cent. Seasonally adjusted exports of many major commodities including milk powder, butter and cheese; and meat and edible offal also showed increases in the last three quarters after decreasing in the first half of 1999. The quarterly trend value for exports of logs, wood and wood articles has risen for the last seven consecutive quarters. For March 2000, provisional unadjusted merchandise exports were $2,509 million while imports were $2,488 million.

The value of exports in the March 2000 quarter was 17.8 per cent higher than a year earlier. The monthly trend for merchandise exports has been increasing since December 1998. The provisional unadjusted merchandise trade balance for March 2000 was a surplus of $21 million. During the last ten years, the average trade balance for March months was a surplus of $217 million. The merchandise trade balance for the year ended March 2000 was a deficit of $3,398 million. The low New Zealand dollar has boosted export receipts but has also pushed up import prices.

Len Cook
GOVERNMENT STATISTICIAN
END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>