Imports Value Grows

Overseas Merchandise Trade (Imports): May 2001

The value of merchandise imports for May 2001 is $2,568 million, according to latest figures released by Statistics New Zealand. The latest data shows a rising imports trend over the last two months, following several months of little change.

The value of imports for the year ended May 2001 is $31,726 million, up 10.2 per cent from the previous May year. Intermediate goods (goods, including crude oil, imported for further processing) rose 20.4 per cent in value, while consumption goods rose 12.1 per cent. Capital plant and machinery rose 18.9 per cent, while capital transport equipment fell 31.1 per cent due to decreased aircraft imports. Excluding items individually valued at $100 million or more (such as large aircraft and ships), the annual increase in the merchandise imports value was 13.4 per cent.

The commodities showing the largest movements in import value for the year ended May 2001 were petroleum and products (up $1,192 million), aircraft and parts (down $612 million), electrical machinery (up $610 million) and ships and boats (down $554 million). The large decrease in value for ships and boats is due to the frigate HMNZS Te Mana (valued at $631 million) included in the year ended May 2000.

The early estimate for May 2001 merchandise exports is $3,220 million, giving a merchandise trade surplus of $652 million for the month, compared with a surplus of $173 million for May 2000. Detailed statistics for May 2001 merchandise exports will be released on 12 July 2001.

Brian Pink GOVERNMENT STATISTICIAN

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