Trade figures reflect recovering economy
Exports and imports continue to rise, reflecting a continued pick up in the economy.
Exports and imports continue to rise, reflecting a continued pick up in the economy.
Exports rose 10% ($4.6 billion) for the month of May, and 14.5% on an annual basis., according to Statistics New Zealand’s latest trade balance figures, released this morning.
The total value of annual exports is now $45.9 billion, and the trend of export values has increased 30% since it bottomed out in September 2009, and is now at a record high, Statistics New Zealand’s manager of business, financial and trade Neil Kelly said.
Imports are up 17% ($594 million) for the month of May, and 11.9% on an annual basis. The total value of annual exports is now $44.8 billion, still below the peak reached in September 2008.
Driving the latest changes are, on the export side, rises in sales of pleasure boats, which pushed up sales in the category by $99 million in May. Sales of dairy products also continued to rise (up $73 million) and meat products (up $72 million.)
On the import side, rises in intermediate goods and capital goods drove the increase: intermediate goods was pushed up by a one-off $214 million import of aircraft parts, but the increase in capital goods, dominated by rises in plant and machinery, is a further sign businesses are preparing to take advantage of an expected economic upswing.
The annual increase in volume of capital goods increases is $13.2%, while the annual increase in consumption goods rose by 5%.
Rob Hosking
Mon, 27 Jun 2011
Mon, 27 Jun 2011
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Trade figures reflect recovering economy
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