Sharechat Logo

NZ wholesale trade up 2.5% in 11th straight quarterly rise

Friday 7th December 2018

Text too small?

New Zealand's wholesale trade rose for the 11th straight quarter with kiwifruit exports the standout performer. 

Seasonally adjusted sales increased 2.5 percent in the three months ended Sept. 30 after a 2.6 percent rise in the June quarter, Statistics New Zealand said.

Five of the six wholesaling industries were up in the September 2018 quarter. The largest industry increase was in grocery, liquor, and tobacco wholesaling, which was up 4.1 percent. 

“This industry’s increase was led by higher sales for kiwifruit exports,” wholesale trade manager Sue Chapman said. 

Wholesale trade covers intermediary transactions between manufacturers and consumers, which feeds into the national accounts and is used by economists to predict wider economic activity.

Sales of basic materials, which includes some agricultural products such as hides and stock feed, hardware goods, metals, minerals, petroleum, and timber wholesaling, rose 3.4 percent, while machinery and equipment gained 1.7 percent, other goods, such as clothing and footwear, pharmaceutical and toiletry goods, and paper products, increased 0.2 percent, and commission-based wholesale sales rose 6 percent. 

The only sub-group that fell was the motor vehicle and motor-vehicle parts industry, which dipped 0.2 percent after lifting 3.6 percent in June. “Toyota New Zealand changed their operating model in April. As a result, there’s some shift in activity and stocks from retail trade into the wholesale trade sector,” Chapman said.

Inventories lifted 2.8 percent on the quarter, with stocks of motor vehicles and parts up 1 percent, grocery, food and liquor product stocks up 2.3 percent, and machinery and equipment wholesale inventories increasing 4.6 percent. Stocks of basic materials rose 6.9 percent, while other goods stocks lifted 4.5 percent. 

Unadjusted wholesale trade sales climbed 8.6 percent to $27.7 billion in the September quarter from a year earlier, while inventories were 13 percent higher at $12.9 billion. 


  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:

MARKET CLOSE: NZX50 tops 10,000, growing 284% in past decade
NZ dollar little changed ahead of Australian CPI data
NZX50 cracks 10,000 level as weak kiwi boosts A2, F&P Healthcare
Zespri signals upside for grower payments in 2020
Bathurst maintains guidance despite reduced Stockton output
ComCom conditionally approves Knauf-USG merger
23rd April 2019 Morning Report
NZD below 67 US cents after US data lifts greenback
MARKET CLOSE: NZX50 gains 1.8% this week, buoyed by rate outlook
NZ dollar falls against Aussie after strong Oz jobs data

IRG See IRG research reports