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Wholesale Sales Increase

Wholesale Trade Survey: December 2000 quarter

Wholesale Sales Increase

The seasonally adjusted value of wholesale sales increased by 4.8 per cent in the December 2000 quarter, latest figures from Statistics New Zealand show. This was an increase of $728 million compared with the previous quarter. The trend in wholesale trade sales has now been increasing since the June 1998 quarter.

A $325 million increase in primary product food sales provided the largest contribution to the rise. This was largely influenced by an increase in sales of dairy products. Overseas Trade statistics report an increase of $182 million for seasonally adjusted provisional exports of milk powder, butter and cheese in the December 2000 quarter. A further rise in crude oil prices appears to have driven the increase in petroleum sales ($132 million), while machinery and equipment ($80 million) and metals ($79 million) also recorded increases.

Stock values rose by $337 million (or 4.3 per cent) in the December 2000 quarter compared with the previous quarter. The largest contribution came from primary product food stocks which increased by $229 million, while petroleum stocks increased by $127 million.

Ian Ewing DEPUTY GOVERNMENT STATISTICIAN

END

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