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

 


Imports rise in July

Imports rise in July – Media release

26 August 2013

The value of imported goods rose $676 million (17 percent) to $4.6 billion in July 2013, compared with July 2012, Statistics New Zealand said today. The main contributors to this were aircraft and parts, up $255 million, and crude oil, up $200 million.

"Higher goods imports led to a deficit of $774 million, the largest for a July month since 2008," industry and labour statistics manager Louise Holmes-Oliver said. "July months normally have trade deficits, but there were small trade surpluses in July 2011 and 2012."

The value of exported goods fell $196 million (4.8 percent) to $3.8 billion. The main contributors to this were crude oil, down $141 million, and milk powder, butter, and cheese, down $137 million. This was partly offset by logs, wood, and wood articles, up $65 million.

The trade balance for July 2013 was a deficit of $774 million (20 percent of exports). The largest deficit in the previous five July months was $797 million (23 percent of exports) in 2008. Similar to July 2013, the value of goods imported in July 2008 was influenced by the value of crude oil, and machinery and equipment.

After removing seasonal effects, values for imported goods rose 12 percent, and exported goods decreased 5.9 percent in July 2013, compared with June 2013.

Overseas merchandise trade statistics remain provisional for the first three months after data is first released. For more information, see Why overseas merchandise trade data can change.

ENDS

OverseasMerchandiseTradeJul13.pdf
omtJul13tables.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news