Wholesale trade sales have risen 1.7%, a fifth consecutive quarterly increase, underpinned by machinery and basic materials collectively up by $357 million.
Against June last year, the total value of wholesale trade stocks rose 6.7%, or by $704 million to $11.2 billion. Cars and parts were up 19%, or $328 million.
SNZ’s wholesale trade manager Sue Chapman said the June quarter’s rise in total wholesaling was driven by basic material wholesaling and machinery and equipment wholesaling.
Wholesale trade is the intermediary transactions, between manufacturers and consumers.
The wholesale stocks of cars, trucks, and parts in the year to June had risen at their fastest pace since 2008, she said.
"The actual value of wholesale stocks of motor vehicle and parts held at June 30 was $2.1 billion," Ms Chapman said.
The previous largest annual stock increase was in September 2008, at the time up $337 million or 24%, she said.
Ms Chapman said the latest annual increase for motor vehicles and parts had coincided with the recent high record of car imports.
Recent overseas merchandise trade data reported that imports of vehicles, parts, and accessories was up 21%, or $396 million, for the quarter to June, against last year.
The biggest annual rundown in wholesale vehicle stocks was in 2009, following the Global Financial Crisis, when they dropped by more than $500 million, Ms Chapman said.
At a glance
Basic materials — up 3.4% or $179million
Machinery and equipment — up 3.7% or $178 million
Motor vehicles and parts — up 4.8% or $124 million
Grocery, liquor, tobacco — up 1% or $76 million
Commission based — up 4.7% or $20 million
Other goods (including textiles, pharmaceuticals, furniture) — down 3.4% or $134 million
Source: Stats NZ
