Friday, 24 October 2014 11:15

Dairy leads export value down

Written by 

THE SEASONALLY adjusted value of exported goods fell 3%, to $12 billion, in the September 2014 quarter, Statistics New Zealand says.
Imports rose 3.7% to $13 billion.

 

The fall in exports in the latest quarter follows a 7.5% fall in the June 2014 quarter. Falls for both quarters were led by milk powder, butter, and cheese; and logs, wood, and wood articles.

"This is the first quarter since September 2013 where exports to Australia were greater than to China," international statistics manager Jason Attewell says. "China's rise to being our number one export market coincided with record dairy exports (driven by both prices and volumes) in the year to the September 2014 quarter."

The rise in imports was led by capital goods, mainly influenced by imports of large aircraft in the September 2014 quarter. The seasonally adjusted trade balance for the September 2014 quarter was a deficit of $1 billion, equivalent to 8.6% of exports.

For the September 2014 month, import values increased $927 million (23%) compared with September 2013, while exports fell $203 million (5.3%). The trade balance for the September 2014 month was a deficit of $1.4 billion (37% of exports).

More like this

2024 red meat exports end on a high

New Zealand's red meat exports for 2024 finished on a positive note, with total export value increasing 17% over last December to reach $1.04 billion, according to the Meat Industry Association (MIA).

Featured

Call to fast-track animal medicines approval

With an amendment to the Medicines Act proposing human medicines could be approved in 30 days if the product has approval from two recognised overseas jurisdictions, there’s a call for a similar approach where possible to be applied to some animal medicines.

National

Machinery & Products

Gongs for best field days site

Among the regular exhibitors at last month’s South Island Agricultural Field Days, the one that arguably takes the most intensive…

» Latest Print Issues Online

Milking It

Less hot air

OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where…

Dollars go offshore

OPINION: The Advertising Standards Authority’s 2024 report revealed that not only is social media rotting our brains, it is also…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter