Dairy, beef, and lamb exports rise in October

Exports of dairy products, beef, and lamb, particularly to China, increased in value in October 2019, Stats NZ said today.

However, the rises were partly offset by falls in logs and kiwifruit.

In October 2019, the value of total goods exports rose $206 million (4.3 percent) from October 2018 to reach $5.0 billion.

The rise in exports was led by milk powder, up $194 million (32 percent) from October 2018. The rise was quantity-led, but unit values were also up.

“In each month at the start of the 2019/20 export season, the total value of milk powder exports was up on the same month of the previous year,” international statistics manager Darren Allan said.

“These rises reflect higher export quantities and higher prices.”

MonthValue
Oct-16530071592
Nov-16689544767
Dec-16856782189
Jan-17706009539
Feb-17556700612
Mar-17583338687
Apr-17553862366
May-17597597430
Jun-17635515131
Jul-17561121843
Aug-17184541457
Sep-17344611544
Oct-17660221499
Nov-17768789311
Dec-171076899688
Jan-18759915789
Feb-18553951902
Mar-18557429925
Apr-18559585837
May-18491940110
Jun-18465654900
Jul-18694147145
Aug-18200357539
Sep-18311331733
Oct-18606161288
Nov-18858220547
Dec-181099184143
Jan-19856881709
Feb-19678916430
Mar-19755573189
Apr-19691219530
May-19631050167
Jun-19541819995
Jul-19608114199
Aug-19227501739
Sep-19440782803
Oct-19799951903
MonthValue per kg
Oct-163.15
Nov-163.43
Dec-163.72
Jan-173.93
Feb-174.14
Mar-174.33
Apr-174.42
May-174.22
Jun-173.95
Jul-173.86
Aug-174.28
Sep-174.15
Oct-174.14
Nov-174.29
Dec-174.19
Jan-183.9
Feb-183.76
Mar-183.76
Apr-183.99
May-184.33
Jun-184.35
Jul-184.56
Aug-184.86
Sep-184.64
Oct-184.38
Nov-184.12
Dec-184.05
Jan-193.91
Feb-193.91
Mar-194
Apr-194.19
May-194.49
Jun-194.69
Jul-194.6
Aug-195.01
Sep-195.05
Oct-194.91

Exports of lamb (up $67 million or 27 percent), and beef (up $59 million or 39 percent) were the other main contributors to the rise in exports. The quantity of lamb exports rose 20 percent in October 2019 compared with October 2018, and that of beef exports rose 27 percent over the same period. Unit prices of both beef and lamb were also up on the same month in 2018.

These rises were partly offset by falls in untreated logs (down $93 million), and green kiwifruit (down $47 million).

“Export prices of untreated log exports in October have now increased by 11 percent since a low point was reached in July this year,” Mr Allan said.

“However, the total export value of untreated logs continues to be lower than the same month of the previous year, and in October, quantities were down by 19 percent.”

MonthQuantity
Oct-141620540
Nov-141443711
Dec-141311598
Jan-15912694
Feb-151410742
Mar-151383207
Apr-151448009
May-151071682
Jun-151384105
Jul-151186098
Aug-151099630
Sep-151150950
Oct-151176473
Nov-151085043
Dec-151382778
Jan-16952174
Feb-161266974
Mar-161349081
Apr-161380437
May-161398764
Jun-161243573
Jul-161251545
Aug-161740590
Sep-161396935
Oct-161435127
Nov-161220655
Dec-161315332
Jan-17892253
Feb-171370727
Mar-171642835
Apr-171689138
May-171484623
Jun-171696691
Jul-171565899
Aug-171688301
Sep-171561369
Oct-171868388
Nov-171878083
Dec-171605155
Jan-181054065
Feb-181621376
Mar-181963386
Apr-181696611
May-181888757
Jun-181573998
Jul-181984379
Aug-181852292
Sep-181781015
Oct-181976984
Nov-182011086
Dec-181631326
Jan-191288811
Feb-191843428
Mar-192160116
Apr-191837467
May-191938823
Jun-191893227
Jul-191877145
Aug-191745715
Sep-191822754
Oct-191596625
MonthValue per cubic metre
Oct-14129.93
Nov-14137.1
Dec-14146.51
Jan-15139.94
Feb-15142.34
Mar-15130.81
Apr-15123.66
May-15119.09
Jun-15116.69
Jul-15129.74
Aug-15128.7
Sep-15121.08
Oct-15121.57
Nov-15136.91
Dec-15149.99
Jan-16150.09
Feb-16147.76
Mar-16150.01
Apr-16146.57
May-16154.15
Jun-16154.87
Jul-16141.11
Aug-16140.16
Sep-16140.02
Oct-16144.3
Nov-16147.18
Dec-16147.97
Jan-17152.93
Feb-17152.72
Mar-17153.2
Apr-17154.47
May-17159.77
Jun-17153.59
Jul-17155.24
Aug-17153.49
Sep-17161.7
Oct-17161.68
Nov-17173.21
Dec-17172.31
Jan-18170.99
Feb-18164.52
Mar-18162.85
Apr-18159.93
May-18165.34
Jun-18171.22
Jul-18172.28
Aug-18161.53
Sep-18165.41
Oct-18169.42
Nov-18170.45
Dec-18165.35
Jan-19174.45
Feb-19176.6
Mar-19175.82
Apr-19166.62
May-19169.13
Jun-19155.04
Jul-19136.82
Aug-19137.67
Sep-19144.26
Oct-19151.42

The monthly movements in dairy products, beef, lamb, and logs were led by exports of the respective commodities to China, New Zealand’s largest export partner.

Exports to China rose $279 million in October 2019. Exports to other main markets were little changed, except for the European Union, down $97 million on a year earlier.

Transport equipment leads fall in imports

The value of goods imports in October 2019 fell $86 million from October 2018, to $6.0 billion.

The leading contributors to the fall were industrial transport equipment (such as railway engines, trucks, and aircraft), down $120 million, processed industrial supplies (such as pharmaceutical products), down $84 million, and crude oil, down $34 million.

These falls were offset by rises in parts and accessories of transport equipment (such as aircraft parts), machinery and plant, and processed fuels such as diesel.

Trade deficit in October

The monthly trade balance in October 2019 was a deficit of $1.0 billion. The average monthly deficit in the previous five October months was $948 million.

/Stats NZ Public Release. View in full here.