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

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news