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

 


Trade Deficit in August

Trade Deficit in August

The estimated merchandise trade deficit for August 2003 is $274 million or 11.8 percent of exports, according to Statistics New Zealand. A trade deficit is usual for an August month, with deficits ranging from 3.8 percent to 23.3 percent of exports over the last 10 years.

The provisional value of merchandise imports for August 2003 was $2,604 million, and the estimated value of merchandise exports was $2,330 million. The values of both imports and exports were lower than in August 2002, down 11.6 percent and 2.4 percent, respectively. The New Zealand dollar is 17.8 percent higher in August 2003 than in August 2002, according to the trade weighted index. A higher exchange rate will generally have a downward influence on export and import prices.

The main contributors to the lower imports value for the August 2003 month were crude oil; plastic and plastic articles; and fertilizers. During this month, seven armoured vehicles were imported from Canada. With these excluded, the August 2003 imports value for vehicles, parts and accessories would have been 5.5 percent lower than the figure recorded in August 2002.

For the year ended August 2003, the provisional value of merchandise imports is $31,768 million, down 0.9 percent from the August 2002 year. The estimated value of merchandise exports for the same period is $28,979 million (down 9.1 percent), resulting in an estimated deficit of $2,788 million (9.6 percent of exports) for the period.

Updated and detailed merchandise export statistics will be released on 6 October 2003.

Brian Pink

Government Statistician

© 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