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Pleasure boat sales boost May exports

Monday 27th June 2011

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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.

NZPA



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