Record Month for Imports
The provisional value of merchandise imports for November 2004 is $3,299 million, the highest monthly value ever
recorded, according to Statistics New Zealand. The previous highest month occurred in November 2000, when a ferry was
imported. The monthly imports trend has been relatively flat since May 2004, following a 9.5 percent rise in the trend
from April 2003.
The value of imports for November 2004 is 18.6 percent higher than for November 2003. A broad range of commodities
contributed to this higher value. However, mechanical machinery and equipment, passenger motor cars, diesel, and crude
oil were the largest contributors to the higher value of imports over this period.
Imports of new passenger motor cars with engine size exceeding 3000cc recorded a high for both quantity and value for
November 2004. A large proportion of cars of this size were imported from Australia during this month.
The estimated value of merchandise exports for November 2004 is $2,620 million, resulting in an estimated trade deficit
of $679 million or 25.9 percent of exports. The average November trade balance for the previous 10 years is a deficit of
$380 million or 17.8 percent of exports. Over this period, the trade deficit has ranged from 4.5 percent to 35.5 percent
of exports. Only two of these deficits have exceeded 25.9 percent of exports.
Brian Pink
Government Statistician
END