Sharechat Logo

Pleasure boat sales boost May exports

Monday 27th June 2011

Text too small?

Exports rose $429 million or 10 percent to $4.6 billion last month, boosted by pleasure boat sales.

Imports were up $594m or 17 percent from May 2010 to $4b, driven up by a $204m lift in the import of petroleum and products, Statistics New Zealand (SNZ) said today.

May had a trade surplus of $605m, or 13 percent of the value of exports, compared to an average May surplus of 6.7 percent in the previous five years. Excluding a one-off import of aircraft parts, valued at $214m, the surplus would have been $819m or 18 percent of the value of exports.

Exports in the ships, boats and floating structures category were up from $9m a year earlier to $108m last month, mainly due to the rise in pleasure boats.

In the milk powder, butter and cheese category exports rose $73m or 8 percent, while meat and edible offal exports were up $72m or 12 percent led by a $43m rise in frozen lamb cuts.

Logs, wood and wood article exports rose 22 percent or $59m, while wood pulp and waste paper exports were down $22m or 29 percent, SNZ said.

Along with aircraft parts, imports recording large rises included a $118m or 32 percent rise in crude oil, automotive diesel up $51m or 79 percent, and machinery and plant imports up $97m or 21 percent. Car imports fell $47m or 18 percent.

Seasonally adjusted, the value of exports was down 8.1 percent in May following an 8.3 percent rise in April. Milk powder, butter and cheese exports fell 18 percent last month from April, with meat and edible offal down 4.6 percent.

Imports rose 7 percent seasonally adjusted, after falls in April and March. Without the aircraft parts, imports would have been up 1.3 percent.


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update
Kiwi Property Group Limited (NZX: KPG) Signs Sale and Purchase Agreement with IKEA
2nd December 2021 Morning Report
The New Zealand Refining Company Limited (NZX: NZR) Launches Share Purchase Plan
Seeka Limited (NZX: SEK) Confirms Market Guidance
Australia and New Zealand Banking Group Limited (NZX: ANZ) Acknowledges Class Action Proceedings
1st December 2021 Morning Report
Livestock Improvement Corporation Limited (NZX: LIC) Appoints New Chief Executive