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.

Commodity Movement ($)
Total exports 215820764
“Milk powder 199056266
butter 98342246
and cheese” 53596989
Meat and edible offal 47635632
“Preparations of milk 20589430
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.

Month Quantity (kilograms)
Jan-14 189947789
Feb-14 172697875
Mar-14 168918488
Apr-14 133693789
May-14 133100671
Jun-14 130705595
Jul-14 117397641
Aug-14 65903472
Sep-14 95465867
Oct-14 153333155
Nov-14 194130920
Dec-14 251175534
Jan-15 183432744
Feb-15 159390070
Mar-15 199774079
Apr-15 123615016
May-15 124524022
Jun-15 111251608
Jul-15 130553448
Aug-15 72070200
Sep-15 82089727
Oct-15 146618250
Nov-15 216712735
Dec-15 241848818
Jan-16 198056153
Feb-16 160431641
Mar-16 123379010
Apr-16 141435498
May-16 132415856
Jun-16 139363498
Jul-16 131824666
Aug-16 63848470
Sep-16 97990365
Oct-16 168167821
Nov-16 200909456
Dec-16 230441124
Jan-17 179423183
Feb-17 134569257
Mar-17 134587511
Apr-17 125422219
May-17 141743079
Jun-17 160722647
Jul-17 145339994
Aug-17 43141352
Sep-17 83105438
Oct-17 159560099
Nov-17 179399108
Dec-17 256893729
Jan-18 194790343
Feb-18 147201999
Mar-18 148221759
Apr-18 140164003
May-18 113626795
Jun-18 106966916
Jul-18 152172529
Aug-18 41219698
Sep-18 67065705
Oct-18 138298223
Nov-18 208549468
Dec-18 271706591
Jan-19 219054349
Feb-19 173465170
Mar-19 188850801
Apr-19 164925286
May-19 140475941
Jun-19 115624744
Jul-19 132316156
Aug-19 45428553
Sep-19 93535841
Month Value per kilogram ($)
Jan-14 6.07
Feb-14 6.14
Mar-14 6.01
Apr-14 5.89
May-14 5.68
Jun-14 5.33
Jul-14 4.99
Aug-14 4.90
Sep-14 4.73
Oct-14 4.32
Nov-14 4.00
Dec-14 3.70
Jan-15 3.63
Feb-15 3.52
Mar-15 3.54
Apr-15 3.66
May-15 3.79
Jun-15 4.20
Jul-15 3.90
Aug-15 3.89
Sep-15 3.56
Oct-15 3.23
Nov-15 3.16
Dec-15 3.30
Jan-16 3.32
Feb-16 3.35
Mar-16 3.40
Apr-16 3.11
May-16 3.08
Jun-16 2.99
Jul-16 2.98
Aug-16 2.98
Sep-16 2.93
Oct-16 3.15
Nov-16 3.43
Dec-16 3.72
Jan-17 3.93
Feb-17 4.14
Mar-17 4.33
Apr-17 4.42
May-17 4.22
Jun-17 3.95
Jul-17 3.86
Aug-17 4.28
Sep-17 4.15
Oct-17 4.14
Nov-17 4.29
Dec-17 4.19
Jan-18 3.90
Feb-18 3.76
Mar-18 3.76
Apr-18 3.99
May-18 4.33
Jun-18 4.35
Jul-18 4.56
Aug-18 4.86
Sep-18 4.64
Oct-18 4.38
Nov-18 4.12
Dec-18 4.05
Jan-19 3.91
Feb-19 3.91
Mar-19 4.00
Apr-19 4.19
May-19 4.49
Jun-19 4.69
Jul-19 4.60
Aug-19 5.01
Sep-19 5.04

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.