Imports Growth Continues

Overseas Merchandise Trade (Imports): June 2001

The value of merchandise imports for June 2001 is $2,670 million, according to latest figures released by Statistics New Zealand. The imports trend shows rises for the latest four months, following three months of little change.

The value of seasonally adjusted imports rose 3.3 per cent in the June 2001 quarter when compared with the previous quarter. This follows a 5.7 per cent fall in the March 2001 quarter. All major broad economic categories showed increases in value for the June 2001 quarter with the exception of crude oil, which showed a decrease in value due to lower volumes.

The value of seasonally adjusted imports of intermediate goods (goods, including crude oil imported for further processing) increased by 1.2 per cent in the June 2001 quarter, following a decrease of 7.7 per cent in the previous quarter. The value of crude oil fell 27.1 per cent in the June 2001 quarter, while other intermediate goods rose 7.7 per cent.

The seasonally adjusted import value of capital machinery and plant increased by 7.0 per cent in the June 2001 quarter, while the value of capital transport equipment increased by 22.0 per cent. Seasonally adjusted imports of consumption goods increased by 3.5 per cent over the same period.

For the year ended June 2001, the merchandise imports value is $31,938 million, an increase of 9.4 per cent from the previous June year.

The early estimate for June 2001 merchandise exports is $2,780 million, giving a merchandise trade surplus of $110 million for the month, compared with a deficit of $17 million for June 2000. Detailed statistics for June 2001 merchandise exports will be released on 9 August 2001.

Brian Pink
Government Statistician

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