Export values beat imports

Press, 23 July 1987, Page 26

Export values beat imports

PA Wellington The annual value of New Zealand’s exports has exceeded imports for the first time since June, 1983. Exports for the year ended June totalled $12,115.5 million, while imports totalled $11,769.9 million, giving an excess of exports over imports of $318.6 million, the Statistics Department said vAstArdnv

The 1985/86 external trade year results were: Imports $11,467.0 million, exports $10,571.7 million, an excess of imports over exports of $895.2 million. Principal commodities exported in 1986/87, with last year’s values in brackets, were: meat and edible meat offals $2247.4 million ($1716.5 million), wool and other animal hair $1687.1 million ($1388.6 million), dairy produce $1417.7 million ($1388.6 million), fish, crustaceans and molluscs $703.7 million ($500.5 million), hides and skins $689.0 million ($422.2 million) and edible fruit and nuts $620.8 million ($464.8 million). New Zealand’s top five export purchasing countries were: U.S. $1947.6 million (16.1 per cent of exports), Japan $1823.6 million (15.1 per cent), Australia $1794.5

million (14.8 per cent), the United Kingdom $1126.5 million (9.3 per cent), and the Peoples Republic of China $425.5 million (3.5 per cent). Principal commodities imported during the year, with last year’s values in brackets, were: petroleum oils other than crude $349.7 million ($1069.9 millibn) petroleum oils, crude $360.8 million ($226.2 million), boilers machinery and mechanical appliances $1752.2 million ($1828.9 million), vehicles $1364.7 million ($1009.4 million), electrical machinery and equipment $922.0 million ($843.5 million) and iron and steel $576.1 million ($621.6 million). New Zealand’s top five country suppliers for 1986/87 were: Japan $2406.2 million (20.4 per cent of imports), Australia $2121.5 million (18.0 per cent), USA $1872.7 million (15.9 per cent), the United Kingdom $1157.0 million (9.8 per cent), and Federal Republic of Germany $704.3 million (6.0 per cent). The net month values of. exports and imports for June, 1987, with June, 1986, values in brackets were: Exports $1162.2 million ($921.8 million), imports $1014.1 million ($779.3 million).