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"A challenging industry": Economic downturn sees volume of imports decline

Author
Newstalk ZB,
Publish Date
Thu, 22 Aug 2024, 9:03am
Photo / NZME
Photo / NZME

"A challenging industry": Economic downturn sees volume of imports decline

Author
Newstalk ZB,
Publish Date
Thu, 22 Aug 2024, 9:03am

The volume of many goods going through our ports is continuing to decline as the economic downturn continues. 

Port of Auckland has announced a 22% increase in annual underlying profit, allowing it to return a $40 million dividend back to Auckland Council. 

But that's largely due to a 3% increase in container volumes and 10% increase in full containers. 

Chief Executive Roger Gray told Mike Hosking there has been a strong decline in construction materials coming in, including cement and steel. 

He says car imports are down almost 10%, with almost no electric vehicles coming into the country now. 

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