Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Merchandise Trade Deficit Confirmed


Merchandise Trade Deficit Confirmed

The provisional value of merchandise exports for January 2003 is $2,042 million, $2 million higher than the estimate published on 28 February, according to Statistics New Zealand. Merchandise imports are $2,439 million, giving a merchandise trade deficit of $397 million, or 19.5 percent of merchandise exports for the month. The trade balance for the January months in the previous 10 years has ranged from a deficit of 17.5 percent to a surplus of 7.5 percent, the average being a deficit of 2.8 percent.

Monthly trend values indicate that exports have generally declined since March 2002. Imports are relatively flat, resulting in a widening deficit for the latest eight months.

The New Zealand dollar has risen against all our major trading partners' currencies for five consecutive months, exerting a downward influence on export prices.

Meat and dairy products are the main contributors to the lower export value in January 2003, when compared with January 2002. Exports to Australia are down $71 million (15.6 percent), as the January 2002 figures included irregular, high-value re-exports of aircraft and exports of ship parts. Exports to the United Kingdom and the United States of America are also lower but are partly offset by higher exports to the People's Republic of China.

For the year ended January 2003, the updated merchandise exports value is $30,809 million, down 5.5 percent from the January 2002 year.

Brian Pink

Government Statistician


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news