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

 

Average Trade Deficit Recorded for November

Average Trade Deficit Recorded for November

The provisional value of merchandise imports for November 2003 is $2,790 million, according to Statistics New Zealand. Exports are estimated at $2,390 million, resulting in a trade deficit of $400 million, or 16.7 percent of exports. This is close to the 10-year average of 17.9 percent of exports for a November month.

The trend for merchandise imports has continued to be relatively flat since the second half of 2000. Over the same period, the New Zealand dollar, as measured by the trade weighted index, has generally appreciated against all our major trading partners, exerting a downward influence on import prices.

The main contributor to the lower imports value for the November 2003 month was crude oil with lower quantities imported, compared with November 2002. Mechanical machinery and equipment; plastic and plastic articles; and toys, games and sports equipment also contributed to the lower value for November 2003. These falls were partly offset by higher values for vehicles and aircraft.

Import values from Australia were lower this month, compared with November 2002, with the main contributors being petroleum and petroleum products; sugars; video games and gaming machines. The New Zealand dollar has depreciated against the Australian dollar over the same period, the only currency among those of our major trading partners to do so.

The provisional value of imports for the year ended November 2003 is $31,648 million, resulting in an estimated trade deficit of $3,157 million, or 11.1 percent of exports. Detailed exports statistics will be released on 14 January 2004.

Brian Pink

Government Statistician


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO:

24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>

ALSO:

EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO: