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Imports Increase Due to Capital Goods

28 October 2005

Overseas Merchandise Trade: September 2005 —

Imports Increase Due to Capital Goods

Capital goods is the major contributor to the 2.0 percent increase in the seasonally adjusted imports value for the September 2005 quarter, Statistics New Zealand said today. Capital transport equipment, which excludes passengers motor cars, rose 34.0 percent, mainly due to imported ships, boats and aircraft.

Capital machinery and plant rose 8.6 percent, with the main contributors being machinery plant, tractors and computer equipment. Consumption goods had an increase of 0.6 percent, while intermediate goods decreased by 1.7 percent.

The seasonally adjusted value of exports decreased 3.4 percent this quarter, following a decrease of 1.6 percent in the previous quarter. Contributing to this decrease were lower export values for milk powder, butter and cheese; fish, crustaceans and molluscs; and casein and caseinates.

The increased value of imports, together with the decreased value of exports, resulted in a seasonally adjusted trade deficit of $2,027 million (27.3 percent of exports) for the September 2005 quarter, compared with a deficit of $1,585 million (20.6 percent of exports) for the previous quarter. The trend of the trade balance has been in deficit since June 2002.

Brian Pink

Government Statistician

ENDS

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