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Imports Continue To Grow

Overseas Merchandise Trade (Imports): July 2001

The value of merchandise imports for July 2001 is $2,796 million, according to latest figures released by Statistics New Zealand. The data shows a rising imports trend over the past five months.

The value of imports for the year ended July 2001 is $32,291 million, up 9.6per cent from the previous July year. Intermediate goods (goods, including crude oil, imported for further processing) rose 19.3 per cent in value, while consumption goods rose 11.7 per cent. Capital machinery and plant rose 12.0 per cent, while capital transport equipment fell 24.4 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 12.7 per cent.

The commodities showing the largest movements in import value for the year ended July 2001 were petroleum and products (up $1,114 million), aircraft and parts (down $583 million), ships and boats (down $412 million) and electrical machinery (up $368 million). Among the larger percentage changes were sugars and sugar confectionery (up 68.1 per cent) and fertilisers (up 57.7 per cent).

The early estimate for July 2001 merchandise exports is $2,750 million, giving a merchandise trade deficit of $46 million for the month, compared with a deficit of $126 million for July 2000. This would give an annual trade surplus of $65 million, which would be the first annual surplus since the year ended April 1995. Detailed statistics and an updated total value for July 2001 merchandise exports will be released on 10 September 2001.

Brian Pink
Government Statistician
END


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