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New Zealand's imports from China hits new records

Xinhua, October 27, 2015 Adjust font size:

New Zealand's monthly imports of goods from China reached a record in September, topping 1 billion NZ dollars (674 million U.S. dollars) for the first time, the government statistics agency said Tuesday.

Monthly imports from China were up 22 percent to 1.1 billion NZ dollars (741.4 million U.S. dollars), compared with September 2014, according to Statistics New Zealand.

Total monthly imports, excluding large import items, were the highest-ever in September, up 8.1 percent year on year to 4.9 billion NZ dollars (3.3 billion U.S. dollars).

Annual goods imports from China also reached a new high of 10 billion NZ dollars (6.74 billion U.S. dollars) in the year to the end of September, up 19 percent year on year.

Total goods imports for the year ending September reached 52 billion NZ dollars (35.03 billion U.S. dollars), the highest-ever for a 12-month period.

"The value of imports from China has increased across most commodities for the last 12 months," international statistics senior manager Jason Attewell said in a statement.

"Mobile phones and laptops led the increase, up a quarter of a billion dollars (168.42 million U.S. dollars)."

Annual two-way trade with China had been increasing since June to hit 18 billion NZ dollars (12.13 billion U.S. dollars).

This was despite dairy exports driving a 26-percent decrease in total exports to China for the last 12 months, said Attewell.

New Zealand's trade deficit last month was 1.2 billion NZ dollars (808.68 million U.S. dollars), or 33 percent of exports, which compared with an average deficit over the previous five months of 21 percent of exports. Endit