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


Record Imports Push Deficit Over One Billion

24 November 2006

Record Imports Push Deficit Over One Billion

The value of merchandise imports for October 2006 was $3.9 billion, a 15.8 percent increase on October 2005 and the highest ever for any month, Statistics New Zealand said today. At $2.7 billion, exports were also up on October 2005 (by 10.5 percent) but trend values indicate that the growth over the previous 15 months is now easing.

The resulting trade balance is a deficit of $1.2 billion (43.0 percent of exports), the second-largest deficit on record for any month. All October months have been in deficit over the past decade.

The increase in the value of imports, compared with October 2005, was spread across most commodities. The commodity group contributing most to the increase was electrical machinery and equipment. At $56 million, mobile phones were the largest single contributor to this group. The increase in exports was led by three commodities: logs; milk powder, butter and cheese; and aluminium. Brian Pink Government Statistician


© Scoop Media

Business Headlines | Sci-Tech Headlines


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>

All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>

MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>

Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>

DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>

Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>