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Re-exports Boost Exports Value

Re-exports Boost Exports Value

The value of merchandise exports for February 2005 has increased due to the higher value of re-exported aircraft and ships, Statistics New Zealand said today. The value of re-exported aircraft and ships for this month is up $134 million compared with February 2004. Re-exports are exports of goods previously imported into New Zealand.

The value of merchandise exports for February 2005 is $2,649 million, which is up $145 million (5.8 percent) compared with February 2004.

Australia was the main export destination contributing to this month's higher value of exports, with aircraft and live animals being the main commodities. Compared with February 2004, the value of exports to Australia is up $126 million (25.2 percent).

In February 2005, the value of the New Zealand dollar reached a 20-year high as measured by the Trade Weighted Index. During the month, the dollar appreciated against all our major trading partners' currencies, with the exception of the Australian dollar. A rise in the New Zealand dollar may have a downward influence on export prices, quantities and values.

Ian Ewing

Acting Government Statistician

END

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