Export values fall despite higher meat and dairy quantities

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Source: Statistics New Zealand – Press Release/Statement:

Headline: Export values fall despite higher meat and dairy quantities

Total goods exports were down $371 million (9.1 percent) to $3.7 billion in January 2015 compared with January 2014, Statistics New Zealand said today.

Milk powder, butter, and cheese exports drove the fall, down 30 percent, led by lower prices. The quantity of dairy products exported rose 2.9 percent, led by cheese and butter, however the quantity of milk powder exported fell 3.1 percent.

“Lower milk powder prices in the last five months, compared with the same months a year earlier, are the main reason exports have been falling,” international statistics manager Jason Attewell said. “Although export values fell, we saw record quantities of dairy and meat exports for a January month.”

A 20 percent rise in meat exports partly offset the fall in monthly exports, led by frozen beef, up 53 percent.

Imports fell $142 million (3.8 percent), to $3.6 billion. The fall was led by intermediate goods (such as crude oil and automotive diesel), down 9.8 percent. The monthly trade balance for January was a surplus of $56 million (1.5 percent of exports).

Seasonally adjusted exports rose 2.7 percent in January 2015, led by increases in fruit and wine exports, compared with December 2014. Seasonally adjusted imports fell 8.5 percent.

Ends

For media enquiries contact: Jason Attewell, Wellington 04 931 4600, info@stats.govt.nz

Authorised by Liz MacPherson, Government Statistician, 26 February 2015

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Selwyn Manning, BCS (Hons.) MCS (Hons.) is an investigative political journalist with 23 years media experience. He specializes in reportage and analysis of socioeconomics, politics, foreign affairs, and security/intelligence issues.
Selwyn has extensive experience as a commentator and has provided live political analysis to a wide range of television and radio organizations broadcasting in New Zealand, Australia and globally including the BBC (Five Live, London) and BBC (World Service). He is currently a correspondent to Australia’s FiveAA radio, and is a regular live-on-air panelist on Radio New Zealand’s The Panel with broadcaster Jim Mora.

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