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Import Values Decline

Overseas Merchandise Trade (Imports): September 2001

The value of merchandise imports for September 2001 is $2,703 million, according to latest figures released by Statistics New Zealand. Latest trend numbers show falls for the August and September 2001 months. This reflects an appreciation of the exchange rate used on the import documentation in the September 2001 month.

The value of seasonally adjusted imports fell 1.0 per cent in the September 2001 quarter when compared with the previous quarter. This follows a 2.8 per cent rise in the June 2001 quarter. The largest contributor to the fall was consumption goods, which decreased 5.4 per cent in the September 2001 quarter. The appreciation of the New Zealand dollar may have contributed to the fall.

The seasonally adjusted import value of intermediate goods (goods, including crude oil imported for further processing) showed little change in the September 2001 quarter, compared with the previous quarter. This follows an increase of 1.6 per cent in the June 2001 quarter. Increased crude oil values were largely offset by decreased values of parts and accessories of capital transport equipment and capital plant. Crude oil values increased due to an increase in volumes, following a fall in both values and volumes last quarter.

For the year ended September 2001, the merchandise imports value is $31,955 million, an increase of 5.2 per cent from the previous September year.

The early estimate for September 2001 merchandise exports is $2,650 million, giving a merchandise trade deficit of $53 million for the month, compared with a deficit of $609 million for the September 2000 month. Detailed statistics for September 2001 merchandise exports will be released on 9 November 2001.

Brian Pink
Government Statistician

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