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Export Trend Decline Confirmed

Overseas Merchandise Trade (Exports): November 2001

The updated value of merchandise exports for the November 2001 month is $2,700 million, according to latest figures released by Statistics New Zealand. This value is 0.4 percent ($10 million) more than the early estimate published on 21 December 2001. The trend series for both imports and exports have peaked in June 2001.

The value of merchandise imports for November 2001 is $3,041 million. This results in a merchandise trade deficit of $341 million for November 2001, which is 12.6 percent of the value of exports for the month. A merchandise trade deficit is normally recorded in November months. Deficits of more than 12.6 percent of exports have been recorded in five out of the 10 previous November months.

The updated value of merchandise exports for the year ended November 2001 is $32,742 million, which is an increase of 14.4 percent from the previous November year.

The updated merchandise trade balance for the year ended November 2001 is a surplus of $875 million. This compares with a deficit for the previous November year of $2,543 million (which included $1,191 million for the import of large aircraft and ships costing $100 million or more each).

Brian Pink Government Statistician END

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