Overseas Trade Indexes (Volumes): September 2009 quarter (provisional)

Merchandise export volumes

Seasonally adjusted export volumes rose 1.0 percent in the September 2009 quarter, the third consecutive quarterly increase. Dairy products, petroleum and petroleum products, and non-food manufactured goods were the major contributors to the rise in volumes in the September 2009 quarter. Partly offsetting the overall rise was a fall in meat volumes.

 

Dairy products volumes, which rose 3.2 percent in the September 2009 quarter, contributed the most to the overall rise in export volumes. Dairy volumes are at their highest level since the series began in the September 1990 quarter, and are 51.2 percent higher than the recent low in the June 2008 quarter, which was affected by the North Island drought. In the September 2009 quarter milk powder (up 15.6 percent) was the main contributor to the rise in dairy products.

Petroleum and petroleum products (up 12.6 percent) was the next largest contributor, mainly due to a rise in the volume of crude oil exported. Petroleum and petroleum products volumes are at their second highest level since the series began in the June 1990 quarter.  The rise coincided with the first full quarter of oil exported from the Maari oil field. Petroleum and petroleum products are not seasonally adjusted.

Non-food manufactured goods also made a significant contribution to the increase in export volumes rising 2.5 percent in the September 2009 quarter. Chemicals and related products (up 6.6 percent) and aluminium (up 16.5 percent) were the major contributors to this rise.

Partly offsetting the overall increase in export volumes was a fall in meat (down 12.6 percent) in the September 2009 quarter. With the exception of the 2.2 percent rise in the June 2009 quarter, meat volumes have been falling since the March 2008 quarter, and are at their lowest level since the December 2002 quarter. All the meat sub-indexes fell in the September 2009 quarter, with lamb, hogget, and mutton (down 14.2 percent) contributing the most to the overall fall in meat.

 

Merchandise import volumes

Seasonally adjusted import volumes rose 1.9 percent in the September 2009 quarter, the first increase since the June 2008 quarter. Intermediate goods and passenger motor cars were the main contributors to the rise. Partly offsetting the overall rise in import volumes were decreases in capital goods and motor spirit. When fuel imports are excluded, import volumes rose 0.8 percent.

 

Intermediate goods volumes, which rose 9.0 percent in the September 2009 quarter, contributed the most to the overall rise in import volumes. Parts and accessories of capital and transport equipment (up 24.8 percent) was the largest contributor, mainly due to aircraft parts. Primary industrial supplies (up 156.5 percent) was the next largest contributor led by phosphate rock, which is used in the production of phosphate fertilisers. The primary industrial supplies sub-index was at its lowest level ever in the June 2009 quarter.

Passenger motor car volumes rose 18.6 percent in the September 2009 quarter following a 36.3 percent rise in the June 2009 quarter. The last two quarterly increases are from a low level, with the March 2009 quarter being the lowest volume since the March 1998 quarter. New petrol cars with cylinder capacities exceeding 1500cc were the main contributors to the rise in the latest quarter.

Consumption goods volumes rose 1.3 percent in the September 2009 quarter following a 0.1 percent rise in the June 2009 quarter. Semi-durable goods (up 4.8 percent) were the main contributor to the rise in consumption goods. The increase in the semi-durable goods was spread over a number of commodities.

Capital goods volumes, which fell 20.8 percent in the September 2009 quarter, were the largest offsetter to the overall rise in import volumes. The major contribution to the decrease in capital goods volumes was capital transport, which fell 49.1 percent, due to a large number of aircraft imported in the June 2009 quarter. The capital machinery and plant sub-index fell 1.1 percent.

Motor spirit volumes fell 16.8 percent in the September 2009 quarter, following a fall of 5.7 percent in the June 2009 quarter. Regular petrol was the main contributor to the fall in the latest quarter.

Updates to previously published data

The overseas trade indexes are provisional for one quarter to allow for the receipt and editing of late and amended trade documentation. The following table shows updates to unadjusted indexes and values.  

 

The import and export merchandise series in this release are calculated from the same data as used in the Overseas Merchandise Trade: October 2009 monthly release published on 27 November 2009. Updates published after this date will be included in subsequent overseas trade index (volumes) releases.

For technical information contact:
Soni Makaafi or Henry Minish
Christchurch 03 964 8700
Email: overseastrade@stats.govt.nz.  

 

Next releases ...

Overseas Trade Indexes (Prices): December 2009 quarter (provisional) 
and
Overseas Trade Indexes (Volumes): December 2009 quarter (provisional)
will both be released on 10 March 2010.