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.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news