Vehicle imports top $7b
New Zealand imported $7.2 billion worth of vehicles, including more than 263,000 cars worth $4.5b, in the year ended September 2019.
The latest figures from Stats NZ show Japan was the country’s largest source of vehicle imports, making up $2.2b of trade, followed by the European Union on $2b, and Thailand with $1.3b.
New Zealand’s highest valued import from a single trade partner for the 12-month period studied was crude oil from the United Arab Emirates, valued at $2.7b.
Imported crude oil is processed at the Marsden Point Refinery into fuels, bitumen for roading, and other products.
“About 60 per cent of imported crude is refined into petrol and diesel,” says Peter Dolan, international statistics manager. “We use this to power our vehicles along with directly imported fuels.
“In one year, we consume about 1,200 litres of petrol and diesel per person. Crude oil and vehicles are among our top imports.”
Vehicles, parts and accessories accounted for $8.1b of imports in the year ending September 2019, compared to $8.9b in the 12 months to September 2018.
This made it the second largest category for imports with a 9.8 per cent market share, behind mechanical machinery and equipment with $8.8b, or 10.6 per cent.
To find out more about Stats NZ’s figures on goods and services, click here.