According to Alasdair Allen, international trade manager, "Inflation is a worldwide reality, meaning New Zealand importers are paying more for products, many of which are essentials like fuel." Import prices and their New Zealand dollar values rise when the value of the New Zealand dollar falls.

1. RISING IMPORT COSTS IN
NEW ZEALAND CAUSE A
RISE IN THE TRADE
DEFICIT

2. Due to higher import costs, New
Zealand's gross trade deficit grew in
the third quarter of 2022 to NZ$7.5
billion ($4 billion), the country's
statistics department reported on
Friday. The rise in goods imports
over the last 12 months has been
driven by imports of oil and
petroleum products. According to
Stats NZ, overall imports of goods
and services increased by 23% to
NZ$29.7 billion in the September
2021 quarter, while total exports of
goods and services increased by
25% to NZ$22.2 billion. Let’s discuss
the notification in detail.

3. According to the new data released
recently by New Zealand's statistics
office, the country's gross trade
imbalance increased to NZ$7.5
billion ($4 billion) in the third
quarter of 2022 as a result of
increasing import expenses.
Imports of oil and petroleum
products have been the main factor
in the increase in goods imports over
the past 12 months. Stats NZ reports
that total imports of goods and
services rose by 23% to NZ$29.7
billion in the third quarter of 2021,
Rising Import Costs in New Zealand
Cause rise in Trade Deficit

4. while total exports rose by 25% to
NZ$22.2 billion.
Also, Vehicles, parts, and
accessories, as well as mechanical
and electrical gear and equipment,
were other commodities that
increased the value of imported
goods in the third quarter of 2022.

5. According to Alasdair Allen,
international trade manager,
"Inflation is a worldwide reality,
meaning New Zealand importers are
paying more for products, many of
which are essentials like fuel."
Import prices and their New Zealand
dollar values rise when the value of
the New Zealand dollar falls.
Increased international travel is
good for both exports and imports.
In the September 2022 quarter,
there was a growth in the number of
international travellers. According to
him, this has increased both travel
service imports and exports. Get
India Export Import Data Base.

6. According to him, although the
number of international travellers
climbed for both arrivals and
departures, neither has yet reached
pre-Covid levels.
According to Alasdair Allen,
international trade manager, "dairy
and meat export values tend to
decline in the September quarter
when the dairy, beef, and lamb
seasons expire and export volumes
decline. This year, meat volumes are
larger than may be anticipated at
this time of year, while dairy
volumes are lower than might be
expected.

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