11 December 2006
Export Volumes Up, Prices Down
The seasonally adjusted merchandise export volumes index rose 5.2 percent in the September 2006 quarter, Statistics New
Zealand said today. This follows an increase of 0.5 percent in the June 2006 quarter. The food and beverages index (up
8.1 percent) was the main contributor to the rise and was at a record high. Meat, and fruit and vegetables contributed
the most to the rise in food and beverages volumes.
Merchandise export prices fell 0.8 percent in the latest quarter, with falling prices for dairy products (down 3.8
percent) and aluminium (down 2.1 percent) being the primary commodity drivers. Partly offsetting these falls was a 1.5
percent rise in meat product prices.
The seasonally adjusted merchandise import volumes index rose 1.6 percent in the September 2006 quarter, following
falls in the previous two quarters. The intermediate goods index (up 5.9 percent) was the main contributor, with crude
oil responsible for most of this increase. Excluding fuel imports, total import volumes would have risen by 0.3 percent.
Merchandise import prices increased for the sixth consecutive quarter, with a 1.1 percent rise in the September 2006
quarter. Price increases for petroleum and plastic products were the main reasons for the rise. Annually, the
merchandise import price index rose 12.0 percent in the year to the September 2006 quarter.
As a result of rising import prices, coupled with falling export prices, the merchandise terms of trade recorded a 1.9
percent fall in the September 2006 quarter compared with the June 2006 quarter.
Brian Pink
Government Statistician
ENDS