Blog Archives

Vehicles lead the way in imports

New Zealand’s two-way trade with APEC reached $102 billion for the year ended September 2017, Stats NZ said today, with vehicles leading the way in imports. 

APEC, the Asia-Pacific Economic Cooperation, forum involves 21 Pacific Rim member economies, including Australia, China, and the United States – three of our main trading partners. It is Asia-Pacific’s main economic forum where a number of trade agreements are reached. 

“Asia-Pacific is the fastest-growing economic region in the world,” international statistics manager Tehseen Islam said.

“Over the last decade, New Zealand’s two-way trade with APEC has grown $31 billion, and a $2.6 billion deficit is now a $4 billion surplus.” 

Talks regarding the Comprehensive and Progressive Agreement for Trans-Pacific Partnership are currently underway at APEC. Eleven of the 21 APEC countries are in the trade talks.

In the September 2017 year, New Zealand had a $4 billion surplus with APEC, most of this down to the$3 billion surplus with China  – we exported $53 billion worth of goods and services to APEC, and imported $49 billion.

New Zealand’s main imports from APEC are vehicles, machinery, and equipment.

New Zealand imports a large amount of cars and trucks from Japan, Thailand, the US, and South Korea, all of which are APEC nations.

New Zealand imported $2 billion worth of electrical machinery and equipment from China in the September 2017 year, and nearly $4 billion worth of mechanical machinery and equipment from China, the US, and Japan combined.

Travel spending also contributed to the trade surplus. Visitors from APEC nations provided $9 billion to the New Zealand economy in the September 2017 year through exports of travel services, mainly by visitors from Australia, China, and the US.


Tagged with: , , ,

Value of vehicles, parts from ASEAN doubles since 2013

New Zealand’s two-way trade with the ASEAN was $15.2 billion in the June 2017 year, Stats NZ said today. Goods and services exported to ASEAN countries totalled $6.3 billion, and imports totalled $8.9 billion.

New Zealand’s trade deficit with the combined Association of South East Asian Nations countries, known as ASEAN, was $2.6 billion.

ASEAN, established in August 1967, had Indonesia, Malaysia, the Philippines, Singapore, and Thailand as original members. Countries that joined later were Brunei Darussalam, Cambodia, Laos, Myanmar, and Viet Nam.

Dairy products, petrol and cars were among the main goods traded.

Since 2013, the value of vehicles and parts imported from ASEAN has doubled to reach $1.3 billion in the June 2017 year. Stats NZ say that most of these vehicles are from Thailand, where cars and trucks are made under licence for Japanese, American, and other international car makers.

Petroleum and related products was New Zealand’s largest goods import from ASEAN in the June 2017 year, according to Stats NZ. New Zealand imported $1.4 billion worth of petroleum from ASEAN in the June 2017 year, half of what was imported in the June 2013 year. Most these petroleum imports came from Singapore ($982 million).

“Fifty years ago, we exported nearly $16 million worth of goods to the five original ASEAN countries,” international statistics senior manager Daria Kwon said. “That’s around $160 million in today’s value.”

Transportation was the largest service import from ASEAN, largely attributable to New Zealanders flying through Singapore on non-resident airlines.

Vehicles, parts, and accessories from Japan ($2.3 billion) and the European Union ($2.2 billion);
and electrical machinery and equipment from China ($2.0 billion), were our three largest import
expenses in the year ended June 2017. Source: Stats NZ


Tagged with: , , , ,

Port of Tauranga announce record earnings

The Port of Tauranga today announced record annual earnings and the increase of freight volumes across the board.

Among the results posted in their 2017 financial year results was a record container volume in excess of 1 million twenty-foot-equivalent units (TEU), a New Zealand first for any port.

Total trade increased over 10 percent to 22.2 million tonnes.

Net profit after tax for the 2017 financial year rose 7.9 per cent to $83.4 million, from $77.3 million the previous year. The result was lifted by a 13.8 per cent increase in container volumes to a record 1,085,987 TEU, as well as growth in log, dairy products and oil imports.

Annual revenue rose 4.2 per cent to $255.9 million, up from $245.5 million, while Earnings before interest, tax, depreciation and amortization (EBITDA) increased 6.4 per cent, from $143.2 million last year to $152.4 million this year.

Port land was revalued during the year increasing by $63 million reflecting the general increase in land values over the last two years.

The Port of Tauranga has completed dredging works to allow larger ships entry to the port.

Port of Tauranga Chair David Pilkington says it has been a monumental year.

“The successful completion of our dredging project in September was a turning point, as bigger vessels were able to call in New Zealand for the first time.”

“As soon as the dredging was finished, larger vessels were introduced on Tauranga-only port calls,” he said.

The capacity for the Port of Tauranga to accommodate these larger vessels has significantly contributed to this increase in volumes, the Port said.

The Port’s strong financial results come the same day as Statistics New Zealand announced that the country has posted its first trade surplus for the month of July in five years.

“July months are typically deficits,” Stats NZ overseas trade manager Tehseen Islam said. “This is the first July surplus since 2012 ($98 million) and only the 11th July surplus since 1960.”

While exports increased 17 per cent to $668 million for the month of July, imports also increased by 5.4 per cent to $232 million. The increase in vehicles, parts and accessories lead the import increase, showing 25 per cent growth, with a total value of $154 million.

The annual deficit for July was $3.2 billion, down from $3.6 billion for the June 2017 year.



Tagged with: , , , ,

Japanese exports up in May

Japanese exports surged in May, which saw the highest year-on-year monthly growth in two years, up 14.9 per cent. It’s the biggest rise since January 2015 and twice the pace seen in April.

“The main scenario is Japan’s exports will continue to recover,” Shuji Tonouchi, senior market economist at Mitsubishi UFJ Morgan Stanley Securities, told Reuters.

“However, the pace of growth could slow somewhat as inventories of certain goods, like electronics, start to build up overseas.”

Exports to the US rose 11.6 per cent year-on-year in May, the fastest increase since July 2015, due to an increase in vehicles and car parts.

Exports to China also increased 23.9 per cent year-on-year, following a 14.8 per cent annual increase in April. This rise was driven by growing demand for flat panels and semiconductor manufacturing equipment.

Overall, imports have risen 17.8 per cent in the year to May, the strongest since early 2014.

Tagged with: , , ,

Wholesale trade grows in latest quarter

Wholesale motor vehicle trade rose 3.8 per cent in the March quarter

Wholesale trade sales rose for the fourth consecutive quarter in March 2017, Stats NZ reported today.

Seasonally adjusted total wholesale trade sales rose 2.1 per cent in March, after increasing 1.1 per cent in December and 1.1 per cent in September.

“The March quarter’s rise in total wholesaling was led by basic material wholesaling,” business indicators manager Craig Liken said. “Basic material wholesaling includes agricultural products, petroleum, metal and mineral, and timber wholesaling.”

When seasonally adjusted, five of the six wholesaling industries rose in March 2017, with machinery and equipment seeing no change in sales values.

Motor vehicle and motor vehicle parts were up 3.8 per cent to $2.5 billion in the March quarter, when seasonally adjusted.

Annually, the wholesale trade for motor vehicles and parts rose 15 per cent.

Wholesale stocks of motor vehicles and parts also rose, increasing 8.6 per cent to $1.9 billion. This follows a 0.5 decline in stocks in December and a 0.8 per cent increase in September. Annually, stock values have risen 12 per cent.

The actual value of wholesale trade sales was $24.4 billion in the March quarter, up 5.3 per cent, or $1.2 billion, over the last 12 months.

Tagged with: , , ,

Trade sales rise

Wholesale trade sales rose again in the September 2016 quarter, after rising in the June 2016 quarter.

Seasonally adjusted total sales were up one percent in the latest quarter, after rising 1.7 percent in the June 2016 quarter and falling 0.2 percent in the March 2016 quarter.

“The September quarter’s rise in total wholesaling was led by agriculture products and motor vehicles,” business indicators senior manager Neil Kelly said.

When adjusted for seasonal effects, five of the six wholesaling industries rose in the September 2016 quarter when compared with the June 2016 quarter.

Motor vehicle and motor-vehicle parts were one of the biggest sectors, which were up 3.7 per cent ($87 million), with machinery and equipment up by 1.7 per cent ($79 million).

The trend for wholesale trade sales has generally been increasing since late 2009.

The actual value of wholesale trade sales was $24.2 billion in the latest quarter, up $564 million (2.4 percent) from the September 2015 quarter.

Tagged with: , , , , , ,