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Exports Decrease, Imports Increase

Overseas Merchandise Trade: July 2005

Exports Decrease, Imports Increase

Total exports of merchandise goods for July 2005 are provisionally valued at $2,431 million and total imports at $3,047 million, Statistics New Zealand said today. Compared with July 2004 the value of total merchandise goods exports decreased $35 million (1.4 percent), while the value of total imports increased $198 million (6.9 percent).

The decrease in exports and increase in imports resulted in a monthly trade deficit for July 2005 of $617 million, up from the trade deficit of $384 million for July 2004. While a deficit is normal for a July month, this deficit is the largest July deficit on record.

New Zealand's four major trading partners, Australia, the United States of America, Japan and the People's Republic of China, account for approximately half of New Zealand's merchandise trade.

With the exception of Australia, exports to these countries all decreased in the July 2005 month compared with the July 2004 month. With the exception of the United States of America, imports from these countries all increased in the July 2005 month compared with the July 2004 month.

Brian Pink
Government Statistician

END

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