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Petroleum fuels wholesale trade increase

Embargoed until 10:45am – 5 March 2008

Petroleum fuels wholesale trade increase

Seasonally adjusted total wholesale trade sales increased 3.4 percent for the December 2007 quarter compared with the September 2007 quarter, Statistics New Zealand said today. This follows an increase of 2.2 percent in September 2007 quarter.

The main influence on this quarter's increase was the rise in petroleum product wholesaling, up 16.9 percent, contributing over one-third to the total wholesale trade sales increase for the December 2007 quarter. The petroleum product sales are reflective of both increased volumes and higher world prices for crude oil.

Other industries to record increased sales were primary product food, up 8.7 percent, and builders' supplies, up 7.6 percent. The largest decrease was recorded in the food and grocery products industry, down 1.5 percent.

The total wholesale trade sales trend has continued to increase, rising 15.1 percent since a small fall in the December 2005 quarter.

Seasonally adjusted wholesale stocks for the December 2007 quarter increased 3.2 percent following a 0.9 percent fall in the September 2007 quarter.

Geoff Bascand
Government Statistician
5 March 2008

ENDS

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