Auto imports from China soar

The value of motor vehicles, parts and accessories imported here from China was more than 10 times higher in February 2021 than in the same month a year earlier.

Automotive imports from China clocked $30m last month, up from just $2.7m in February 2020, according to the latest figures from Stats NZ.

In the year to February, such imports more than doubled to $111m when compared to $55m in the previous 12 months.

The total value of motor vehicles, parts and accessories in February 2021 jumped by $135m, or 24 per cent, from the same month a year earlier to $695m.

A $122m surge in vehicle imports over the same period was the main driver of the increase.

The figures come as all monthly imports to New Zealand fell by $46m, or 1.1 per cent, over the same period to $4.3 billion.

Crude oil imports tumbled $201m, or 80 per cent, with the average unit value down 38 per cent and volume imported down 67 per cent.

Imports of mechanical machinery and equipment were down $119m in February. 

Meanwhile, the value of total goods exported dropped $416m, or 8.5 per cent, last month in comparison to the previous February. 

This included crude oil slipping by $52m, or 67 per cent, compared with the same time last year.

The monthly trade balance was a surplus of $181m.