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

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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