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Imports rise in November 2015
Embargoed until 10:45am  –  23 December 2015

Overseas Merchandise Trade: November 2015  –  Media Release

The value of total goods imported was $4.9 billion in November 2015, up $535 million (12 percent) from November 2014, Statistics New Zealand said today.

Capital goods led the rise, with transport equipment up $293 million. Excluding large aircraft, total goods imports rose 6.3 percent to $4.5 billion, and capital goods rose $106 million.

“During 2015 the lower New Zealand dollar has pushed up the price of imported goods,” international statistics senior manager Jason Attewell said. “A recent fall in the world crude oil price has more than offset the lower New Zealand dollar for petroleum imports."

For the year ended November 2015, crude oil imports fell 31 percent in value compared with the November 2014 year. The quantity of crude oil imported rose 6.9 percent over that period.

In November 2015, consumption goods rose $213 million (19 percent) compared with November 2014. The rise in consumption goods values was driven by the lower New Zealand dollar and higher import volumes. The trade weighted index fell 7.8 percent in November 2015 compared with November 2014.

Total goods exported rose $40 million (1.0 percent) in November 2015 compared with November 2014, led by meat and fruit. Milk powder, butter, and cheese exports fell 3.3 percent to $1.2 billion. The trade deficit widened in November 2015 to $779 million, compared with a deficit of $283 million in November 2014.

Exports to China rose $117 million, and exports to Australia fell $31 million. This widened the gap between the two countries on an annual basis to $200 million.

This release focuses on our goods trade. Goods made up 71 percent of total goods and services and 74 percent of total imports for the year ended September 2015. Goods and Services Trade by Country: Year ended December 2015 will be available on 2 March 2016.

Ends

For media enquiries contact: Stuart Jones, Christchurch, 03 964 8700, info@stats.govt.nz
Authorised by Liz MacPherson, Government Statistician, 23 December 2015

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