Tuesday, 04 March 2014 10:13

Dairy dominates rise in export volumes

Written by 

DAIRY EXPORT values rose 27% in the December 2013 quarter, says Statistics New Zealand.

Dairy volumes, after also adjusting for seasonal effects, rose 23% while actual prices fell 1.1%.

Total export volumes rose 9.7% in the December 2013 quarter while total export prices fell 0.5%. Both movements were strongly influenced by dairy, which accounted for 39% of the value of goods exported in the December quarter – twice as much as meat and forestry combined.

"Export volumes are at their highest level since the series began in 1990, reflecting higher dairy volumes in the December quarter, after adjusting for seasonal effects," prices manager Chris Pike said. "Dairy export prices fell slightly, reflecting a stronger New Zealand dollar."

Import prices fell 2.8% in the December 2013 quarter. The fall was broadly based, due to the stronger New Zealand dollar. An exception was petroleum and petroleum products, which rose 0.1%.

The merchandise terms of trade rose 2.3%. This is the fourth consecutive rise in the terms of trade, which is at its highest level since the December 1973 quarter and 3.5% below the all-time peak in the June 1973 quarter. In the December 2013 quarter, the Reserve Bank's trade weighted index rose 2.7%, which had a downward effect on export and import prices.

Terms of trade is a measure of the purchasing power of New Zealand's exports abroad. An increase means New Zealand can buy more imports for the same amount of exports.

Total import volumes were unchanged, with a fall in capital goods offset by rises in the other categories. The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.

More like this

Export prices set to remain elevated

Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.

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

$2b boost in NZ exports to EU

New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.

US tariffs hit European ag machinery markets

The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural machinery manufacturers will be looking for new markets.

Tributes paid to Jim Bolger

Dignitaries from  all walks of life – the governor general,  politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and  friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.

National

Machinery & Products

» Latest Print Issues Online

The Hound

Red faced

OPINION: The Greens have taken the high moral ground on the Palestine issue and been leading political agitators in related…

Cold comfort

One of the most galling aspects of the tariffs whacked on our farm exports to the US is the fact…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter