Dairy products lead rise in exports

Key commodity exports of dairy products and meat increased in value in September 2019, but these rises were partly offset by a fall in value of log and fruit exports, Stats NZ said today.

In September 2019, the value of total goods exports rose $216 million (5.1 percent) from September 2018 to $4.5 billion, mainly driven by exports to China.

CommodityMovement ($)
Total exports215820764
“Milk powder199056266
butter98342246
and cheese”53596989
Meat and edible offal47635632
“Preparations of milk20589430
cereals-63209817
flour-65515319
and starch”
Crude oil
Wine
“Logs
wood
and wood articles”
Fruit

Exports of dairy products (our largest export commodity group) led the rise in exports, up $199 million (28 percent) to $920 million in September 2019. This rise was led by milk powder, up $160 million on a year earlier.

“New Zealand is exporting more milk powder than this time last year and getting better prices too,” international statistics manager Darren Allan said.

MonthQuantity (kilograms)
Jan-14189947789
Feb-14172697875
Mar-14168918488
Apr-14133693789
May-14133100671
Jun-14130705595
Jul-14117397641
Aug-1465903472
Sep-1495465867
Oct-14153333155
Nov-14194130920
Dec-14251175534
Jan-15183432744
Feb-15159390070
Mar-15199774079
Apr-15123615016
May-15124524022
Jun-15111251608
Jul-15130553448
Aug-1572070200
Sep-1582089727
Oct-15146618250
Nov-15216712735
Dec-15241848818
Jan-16198056153
Feb-16160431641
Mar-16123379010
Apr-16141435498
May-16132415856
Jun-16139363498
Jul-16131824666
Aug-1663848470
Sep-1697990365
Oct-16168167821
Nov-16200909456
Dec-16230441124
Jan-17179423183
Feb-17134569257
Mar-17134587511
Apr-17125422219
May-17141743079
Jun-17160722647
Jul-17145339994
Aug-1743141352
Sep-1783105438
Oct-17159560099
Nov-17179399108
Dec-17256893729
Jan-18194790343
Feb-18147201999
Mar-18148221759
Apr-18140164003
May-18113626795
Jun-18106966916
Jul-18152172529
Aug-1841219698
Sep-1867065705
Oct-18138298223
Nov-18208549468
Dec-18271706591
Jan-19219054349
Feb-19173465170
Mar-19188850801
Apr-19164925286
May-19140475941
Jun-19115624744
Jul-19132316156
Aug-1945428553
Sep-1993535841
MonthValue per kilogram ($)
Jan-146.07
Feb-146.14
Mar-146.01
Apr-145.89
May-145.68
Jun-145.33
Jul-144.99
Aug-144.90
Sep-144.73
Oct-144.32
Nov-144.00
Dec-143.70
Jan-153.63
Feb-153.52
Mar-153.54
Apr-153.66
May-153.79
Jun-154.20
Jul-153.90
Aug-153.89
Sep-153.56
Oct-153.23
Nov-153.16
Dec-153.30
Jan-163.32
Feb-163.35
Mar-163.40
Apr-163.11
May-163.08
Jun-162.99
Jul-162.98
Aug-162.98
Sep-162.93
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-183.90
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-194.00
Apr-194.19
May-194.49
Jun-194.69
Jul-194.60
Aug-195.01
Sep-195.04

Other main contributors to the rise in total exports were meat and edible offal, infant formula (part of the preparations of milk, cereals, flour, and starch commodity group) and crude oil.

Of New Zealand’s main export markets, China had the largest increase in exports, up $227 million (23 percent) to $1.2 billion.

“Exports to China were the leading contributor to increases in several commodities including milk powder, beef, and lamb,” Mr Allan said.

These rises were partly offset by a fall in forestry products (down $63 million on September last year, led by a fall in untreated logs – down $34 million).

“In each of the last three months, the total value of untreated log exports is down on the same month of the previous year, driven by lower prices,” Mr Allan said.

Kiwifruit exports were down $77 million from September 2018. Although down in the September month, exports of kiwifruit in the 2019 export season to date (April-September) were 4.5 percent higher in value than in the 2018 season and reflect higher quantities of gold kiwifruit exports.

Petroleum and products lead fall in imports

Monthly imports were down $122 million (2.1 percent) from September 2018 to $5.7 billion.

This fall was driven by petroleum and products (down $252 million), led by crude oil (down $181 million).

Other main contributors to the fall in imports were aircraft and parts (down $155 million) and fertilisers (down $74 million). Imports of aircraft and parts are irregular and can mean large rises or falls in monthly figures.

These falls were partly offset by a rise in mechanical machinery and equipment (up $131 million), led by turbo-jets and turbo-propellers ($56 million).

Trade deficit for September

The monthly trade balance was a deficit of $1.2 billion. This is the third monthly deficit in a row.

/Stats NZ Public Release. View in full here.