Overseas Trade Indexes: December 2000 quarter (provisional)
Merchandise export volumes recorded a seasonally adjusted increase of 1.8 per cent in the December 2000 quarter,
according to latest Overseas Trade Indexes released by Statistics New Zealand. Increased volumes of dairy products (up
5.5 per cent), meat (up 8.6 per cent) and non-food manufactures (up 1.8 per cent) were the main contributors to the
rise. Wool volumes fell 4.8 per cent.
Seasonally adjusted total merchandise import volumes fell 3.5 per cent in the December 2000 quarter. The volumes of
imported capital transport equipment, passenger motor cars, and motor spirit all fell by more than 5 per cent this
quarter. However, import volumes of capital plant rose 1.8 per cent, intermediate goods rose 1.5 per cent and
consumption goods rose 0.7 per cent. Excluding items valued at $100 million or more each (such as large aircraft and
ships), the seasonally adjusted imports volume index was flat.
The total merchandise exports price index rose 9.2 per cent and the imports price index rose 8.0 per cent in the
December 2000 quarter. Excluding mineral fuels, the imports price index rose 7.3 per cent. Price increases occurred in
most of the main commodities this quarter for exports and imports. A lower New Zealand dollar, as measured by the
Trade-Weighted Index which fell 4.7 per cent, was the main contributor to the increases in most export and import
prices.
The terms of trade for merchandise rose 1.1 per cent in the December 2000 quarter. A rise in the terms of trade means
that more imports can be funded by a fixed quantity of exports. The merchandise terms of trade index has risen for the
last three quarters and is now at its highest level since the March 1995 quarter.
Brian Pink GOVERNMENT STATISTICIAN
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