Nimble New Zealand exporters finding opportunity amid shifting trade terms
Global trade wars and uncertain tariff regimes could play into the hands of many New Zealand exporters, according to Gareth Coleman ANZ’s Head of Trade & Supply Chain.
Beef, lamb, and milk powder were just some of the falling commodities; as a result the rise was limited, says Statistics New Zealand.
The 2.5% rise equated to $96 million more than February 2015.
This month saw rises for a range of commodities, including fish, crustaceans, and molluscs (up 23%), and wine (up 34%), international statistics senior manager Stuart Jones says.
But other primary produce exports had mixed results. Milk fats (including butter) and cheese both had increases in value and quantity while other components of dairy, including milk powder, fell in value (quantity showed little change). Beef and lamb exports both fell in value, with the quantity of beef falling 7.8% and the quantity of lamb rising 4.6%.
Imports rose $108 million (2.8%) to $3.9 billion in February 2016, compared with February 2015. Consumption goods led the rise, up $121 million (12%), with the largest increases being pharmaceuticals, toys, and sporting equipment.
In February 2016 there was a goods trade surplus of $72 million (1.8% exports).
