Overseas Merchandise Trade (Imports): November 2001
The provisional value of merchandise imports for November 2001 is $3,041 million, according to latest figures released by Statistics New Zealand. The imports trend shows little change for the latest month, following falls for the previous four months.
Seasonally adjusted consumption goods rose 0.3 per cent in the November 2001 month, following a rise of 4.0 per cent in the October 2001 month. Crude oil import prices and quantities have fallen again in the November 2001 month. Excluding crude oil, seasonally adjusted intermediate goods (goods imported for further processing) decreased 2.5 per cent following a rise of 2.8 per cent in the October 2001 month. Seasonally adjusted capital machinery and plant imports have increased for two consecutive months and are up 6.2 per cent in the November 2001 month.
For the year ended November 2001, the provisional value of merchandise imports is $31,867 million, an increase of 2.2 per cent from the previous November year. Excluding items individually valued at $100 million or more (such as large aircraft and ships), the annual increase in merchandise imports was 6.3 per cent.
The early estimate for November 2001 merchandise exports is $2,690 million, giving a merchandise trade deficit of $351 million for the month, compared with a deficit of $388 million for the November 2000 month. If confirmed, this would be the smallest November month deficit since November 1997. Detailed statistics for November 2001 merchandise exports will be released on 22 January 2002.