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

 

Import Growth Continues - Stats NZ

The trend in merchandise imports has continued the strong growth shown during 1999 according to Statistics New Zealand figures released today. This growth has occurred despite the flat economic performance reported for the June 1999 quarter Gross Domestic Product.

The main contributor to import growth over the last year has been car imports. Imports of transport equipment, intermediate goods and consumption goods also rose strongly. The increase in transport equipment was mostly due to imports of large aircraft late last year.

The value of cars imported in the year ended August 1999 was $2,341 million and contributed 9.4 per cent of the total value of imports for the year. The number of cars imported was 212,205 and includes a large number of used cars from Japan. The average value per car was $11,031.

Provisional merchandise imports for August 1999 were $2,321 million. Imports from Asia continued to increase strongly. Imports from APEC countries continued to grow but at a slower rate than the total for all countries.
August 1999 merchandise export statistics will be released on 8 October 1999. Preliminary estimates indicate the export value will be about $1,870 million. This suggests a trade deficit of about $450 million. During the 1990s, the average trade balance for the month of August, including August 1999, was a deficit of about $211 million.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: