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

 


Updated Export Values for February 2003


Updated Export Values for February 2003

The updated value of merchandise exports for February 2003 is $2,323 million, according to Statistics New Zealand. This is $17 million (0.7 percent) lower than the estimate published on 27 March 2003. The provisional value of merchandise imports is $2,319 million, giving an updated merchandise trade surplus of $4 million, or 0.2 percent of merchandise exports for the month.

Trade surpluses are normal for a February month; however, the February 2003 surplus is smaller than usual. The provisional merchandise export value is 11.4 percent lower than February 2002. Dairy products, aircraft and wood were the main commodities contributing to the lower export value in February 2003. Actual dairy product export values were 23.4 percent lower than February 2002.

The trend indicates that dairy exports are returning to levels that existed for several years prior to May 1999.

Meat and edible offal was the main commodity to show a higher value during the month of February 2003, compared with February 2002. Both the numbers of livestock slaughtered and the quantities of beef and lamb exported were higher over the same period. The New Zealand dollar has risen against all our major trading partners' currencies for six consecutive months, generally exerting a downward influence on export prices.

For the year ended February 2003, the updated merchandise exports value is $30,489 million, down 6.6 percent when compared with the February 2002 year. The updated annual trade balance is a deficit of $1,697 million for the year ended February 2003. The previous February year showed a surplus of $499 million.

Brian Pink

Government Statistician

END


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news