Value of car imports reaches new high

The value of car imports have reached a new high of $513 million, according to statistics released today by Stats NZ. 

There were 26,700 passenger motor cars imported in November, at a higher average value than earlier in the year. Of those, 140 were new electric cars and around 170 were used electric cars.

Overall, imports in November 2017 were valued at $5.8 billion, said Stats NZ. The value exceeded last month’s record of $5.4 billion.

Imports rose $1.2 billion (27 per cent) from November 2016. This was the largest rise in imports since a 62 per cent rise in December 1999. The November 2017 rise was across a range of commodities. The largest increases included imports of aircraft, aircraft parts, motor vehicles, computers, and diggers.

“The $1.2 billion rise in total November 2017 imports was equivalent to 83,000 used electric cars,” international statistics manager Tehseen Islam said. “Alternatively, for that value we could have imported around 700,000 top-of-the-line mobile phones.”

Vehicles, parts and accessories, the largest import commodity group, rose $127 million (18 per cent) to $836 million, compared with November last year. Out of this, passenger motor cars rose $48 million and goods vehicles rose $54 million.

November’s movements for New Zealand’s top import partners were:

  • Japan – up $88 million (27 per cent). This was led by vehicles parts and accessories, which was up $52 million (27 per cent).
  • China – up $150 million, led by mechanical machinery and equipment, up $51 million.
  • European Union – up $247 million (32 per cent), led by increases in mechanical machinery and equipment, up $119 million, and vehicles, parts, and accessories, up $39 million.

 

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