Both business and private containers declined

Container Registrations  July 2017


  Jul 17
Jun 17
May 17
Apr 17

Total
812 1,017 1,062 853
Business
469 502 512 462
Private
343 515 550 391

A total of 812 containers was registered during the month and majority were business containers. The total registrations declined by 205 containers (20.2%), a trend expected for July following the celebratory months of May and June. As these eventful months passed, container registrations fell to its average trend. Private containers declined the most by 172 (33.4%), followed by 33 (6.6%) business containers. New Zealand continued to be the major originating source country for these containers, followed by Australia and Japan. Total number of containers imported from Australia rose by 104 containers (160.0%) but was offset by the decline in containers from New Zealand. Additionally, the number of containers from Indonesia also decreased and there were no containers imported from the United States during the month.

Total import payments (excluding oil) declined by $5.1 million (16.0%) over the month coinciding with the decline in total container registrations. This was due to the drop in payments for miscellaneous goods by $3.8 million (80.1%), followed by $2.5 million (46.7%) in construction import payments. These outweighed the $2.1 million (10.5%) increase in import payments for wholesale and retail goods.

In year ended terms, the total container registrations rose by 1,006 registrations (10.2%), driven by 843 (19.6%) rise in private containers indicating a rise in the informal distribution sector. Additionally, business containers rose over the year by 163 registrations (2.9%). The large number of events and celebrations held during the year, and the increase in private constructions supported this annual growth. In addition, 32 extra cargo ships arrived during the year to July 2017 compared to the previous year, which also supported the transportation sector. This was also consistent with a $33.1 million (11.7%) rise in import payments (excluding oil) as a result of higher import payments for wholesale & retail goods, construction materials, and vehicles.

The Reserve Bank expects imports and consequently container registrations to generally increase in the near term. The Reserve Bank’s liaisons with the construction and transport sectors had indicated growing demand in these sectors which will also drive imports in the near future. On-going construction projects and new private residential constructions are anticipated to contribute to the rise. Spill over effects on the trade, tourism, construction sectors and other sectors in the economy are also anticipated.


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Container Registration - July 2017
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