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


Merchandise Trade Deficit Confirmed

Merchandise Trade Deficit Confirmed

The provisional value of merchandise exports for August 2002 is $2,402 million, according to updated figures from Statistics New Zealand. Merchandise imports are $2,952 million, giving a merchandise trade deficit of $551 million or 23.0 percent of merchandise exports for the month.

As a percentage of exports, this is the largest deficit for an August month in the latest 10 years, although the August 1996 and 1999 percentages are similar.

Monthly trend figures indicate that exports are declining. The merchandise trade balance shows an increasing deficit over the latest four months.

The export value of milk powder, butter and cheese; and casein and caseinates is lower in August 2002 compared with August 2001. Latest trade data suggests little change in dairy prices in August 2002 compared with July 2002. However, the average export prices for milk powder, butter and cheese; and casein and caseinates have fallen from the highs of last year and are currently below average prices of two years ago.

The August 2002 kiwifruit export value is lower than in August 2001. However, the value of kiwifruit exports for the period January to August 2002 is up 18.7 percent compared with the same eight-month period last year. The quantity of kiwifruit exports for the period January to August 2002 is also up 11.6 percent on the same period last year.

For the year ended August 2002, the updated merchandise exports value is $31,877 million, down 2.5 percent from the August 2001 year.

Brian Pink Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


Westpac: More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued

The Westpac McDermott Miller Employment Confidence Index rose 1.2 points in the December quarter, to a level of 106.9. This was the sixth straight rise in the index since the Covid-19 lockdown in 2020. Michael Gordon, Acting Chief Economist for Westpac, noted that the rise in the index has largely been driven by perceptions... More>>

Statistics: Card Spending Continues To Increase As COVID-19 Restrictions Ease

The busy Christmas period combined with easing COVID-19 restrictions helped to increase card spending in December 2021, Stats NZ said today... More>>

Westpac NZ: Warns About Sophisticated New Scam
Westpac NZ is warning New Zealanders about a sophisticated new scam that involves a fake Westpac investment prospectus.
The prospectus is formatted to resemble a Westpac document and includes professional-looking imagery... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>

Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>

Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>