Imports hit new highs last October (2016), setting a record of $5.4 billion – $709 million higher the previous year.
New Zealand’s largest import group – vehicles, parts and accessories, rose by a further $168-million last October, but leading the increase was the country’s second largest import group; mechanical machinery and equipment.
Trucks and vans were up $59 million, cars rose $71 million and, electrical machinery and equipment increased $54 million*.
Partners Finance & Lease have also seen an increase in New Zealand-based businesses applying for import finance.
Director Francis Fitzgerald said: “More and more companies are approaching us for finance when it comes to importing their new or nearly new equipment. From trucks and trailers, diggers to riggers – we’re seeing a range of gear arriving on our shores and making its way across the country to firms big and small.”
For more information about Partners Finance & Lease flexible import finance solutions call us today on 0800 727 101 or email info@partnersfinance.co.nz
*Stats NZ