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Consumer goods imports up $152 million in May

Consumer goods imports up $152 million in May – Media release

27 June 2016

Goods imports rose $229 million (5.7 percent) in May 2016 to $4.2 billion, led by a rise in imports of consumer goods, up $152 million (16 percent), Statistics New Zealand said today.

"The latest rise in the value of consumer goods continues a series of month-on-month increases," international statistics senior manager Nicola Growden said. "The rise was across a broad range of consumer goods, including clothing, cosmetics, household appliances, furniture, and medicines."

As well as a rise in consumer goods imports, capital goods (including aircraft) were up $138 million. Intermediate goods (including parts of transport equipment) were up $105 million when crude oil is excluded (imports of crude oil fell $84 million due to lower prices).

Goods exports rose by a similar amount as goods imports, up $220 million (5.1 percent) to $4.6 billion, led by forestry products (up $110 million), and fruit (up $95 million).

Kiwifruit exports were up 29 percent ($80 million) in value and 14 percent in quantity in May 2016. Gold kiwifruit exports were up $50 million, following a similar rise in April 2016. Green kiwifruit were also up ($35 million). Kiwifruit varieties other than green or gold were down $5 million.

Kiwifruit exports were up across all the top export destinations (as measured by total annual exports); the largest movements for May 2016 were exports to China, up $31 million (62 percent), and the European Union, up $20 million (26 percent).

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Milk powder, butter, and cheese exports fell $90 million (9.9 percent) in May 2016, with falls to many main destinations. China was the exception – exports of milk powder, butter, and cheese were up $41 million for the month.

In May 2016 there was a goods trade surplus of $358 million (7.8 percent of exports). This was higher than the average surplus in the five previous May months (5.8 percent of exports). The annual trade deficit for the year ended May 2016 was $3.6 billion.

This release focuses on our goods trade. Goods made up 70 percent of total goods and services exports, and 75 percent of total imports for the year ended March 2016.

Goods and Services Trade by Country: Year ended June 2016 will be available on 2 September 2016.

http://img.scoop.co.nz/media/pdfs/1606/OverseasMerchandiseTradeMay16.pdf

http://img.scoop.co.nz/media/pdfs/1606/omtMay16tables.xls

ENDS

© Scoop Media

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