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


Export volumes fall, while import volumes rise

Export volumes fall, while import volumes rise

01 September 2014

In the June 2014 quarter, seasonally adjusted export volumes fell 5.3 percent, while import volumes rose 3.6 percent, Statistics New Zealand said today.

“Export volumes recorded their largest fall since the March 2008 quarter,” international statistics manager Jason Attewell said. “This was due to falls from high levels in key primary products.”

Seasonally adjusted meat export volumes fell 8.3 percent, forestry volumes fell 8.3 percent, and dairy volumes fell 2.0 percent.

Seasonally adjusted import volumes rose 3.6 percent, continuing a series of rises that began at the start of 2013. Capital goods led the rise this quarter, accompanied by rises in other key import groupings.

The trend for import volumes has been rising for seven consecutive quarters – by a total of 19 percent.

The terms of trade for goods rose 0.3 percent due to export prices falling less than import prices. “This is the lowest of six consecutive quarterly rises for the terms of trade, which is now 1.3 percent below its alltime high in the June 1973 quarter,” Mr Attewell said.

Terms of trade is a measure of the purchasing power of New Zealand’s exports abroad. An increase means New Zealand can buy more imports for the same amount of exports.

A strengthening New Zealand dollar had a downward influence on import and export prices.

The price of exported goods fell 2.0 percent, with dairy prices falling 4.3 percent and forestry product prices falling 6.5 percent (influenced by a large fall in log prices).

Prices for imported goods fell 2.3 percent. The fall was broad based. Petroleum and petroleum products (down 3.9 percent, due to lower prices for crude oil) contributed the most to the overall fall.

The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news