November Merchandise Trade Deficit $418m
The provisional value of merchandise trade imports for November 2002 is $2,898 million, according to latest figures
released by Statistics New Zealand. The estimated value of merchandise exports for November 2002 is $2,480 million,
resulting in an estimated merchandise trade deficit of $418 million. Detailed statistics for November 2002 merchandise
exports will be released on 15 January 2003.
The deficit of $418 million is 16.9 percent of exports. Deficits, averaging 16.3 percent of exports, have occurred in
November for each of the last 10 years. As a percentage of exports, the deficit ranged from 4.2 percent to 35.5 percent
during this period.
Trend figures indicate a gradual increase in the value of merchandise imports for the latest six months. Over this
period, the deficit has widened as a result of falling merchandise export values.
Merchandise trade imports for November 2002 were 4.4 percent ($133 million) lower than for November 2001. Imports of
aircraft and parts (down $148 million) were the main contributor to the lower value. In November 2001, a Seasprite
helicopter and a large aircraft were imported, raising the value of imports for that month. Vehicles, parts and
accessories (down $26 million) also contributed to the lower merchandise trade imports. The lower values were partly
offset by higher values for petroleum and products (up $47 million) and electrical machinery and equipment (up $37
million).
For the year ended November 2002, the provisional value of merchandise imports is $32,192 million, an increase of 1.1
percent from the previous November year. There have been no items individually valued at $100 million or more (such as
large aircraft and ships) imported in the latest two November years.
Brian Pink
Government Statistician