Vehicles drive rise in imports

The value of imported vehicles, parts and accessories totalled $1.2 billion last month for an increase of $328 million, or 37.5 per cent, when compared with July 2025.

The category helped lift the total value of merchandise goods imports for July by $2.1b, or 28 per cent, from a year ago to $9.3 billion.

Stats NZ’s latest seasonally adjusted figures show imports of vehicles, parts and accessories from China rose by $130m year-on-year, while such commodities from the European Union and Australia climbed by $51m and $12m respectively.

The automotive sector also recorded an increase in the value of imports for the three months ended July 2026, rising 28.3 per cent from the same period a year earlier to hit $3.04b.

The tally for the 12 months to the end of July was up 19 per cent from $8.39b to $9.98b.

As for other categories, imports of petroleum products increased last month by $932m, or 127 per cent, from a year ago to total $1.67b.

Overall exports last month climbed $881m, or 14 per cent, to reach $7.4b. This meant the monthly trade balance was a deficit of $1.9b.

The annual trade deficit for the year to the end of July was $5.2b, up from $4.2b at the same stage of 2025.