Exports rise as dairy gains while logs and fish fall

Total goods exports increased in the February 2020 month due to an increase in the value of dairy products, Stats NZ said today.

The total value of meat exports was little changed, but higher quantities were exported to the United States instead of China.

The increase in total good exports was despite falls in exports of logs and fish, particularly to China, in the wake of the COVID-19 outbreak.

The value of total goods exports rose by $212 million (4.5 percent) from February 2019 to reach $4.9 billion in February 2020.

“This month’s total goods exports were up on the same month of 2019, led by dairy exports, in particular milk powder,” international statistics manager Darren Allan said.

“Dairy product exports to China remained high, but logs, meat, and fish exports were lower.”

CountryMovement ($)
Total exports212402577
“Milk powder190288613
butter56621187
and cheese”35587869
Crude oil19329941
Casein and caseinates-46647779
Wine-123722279
“Fish
crustaceans
and molluscs”
“Logs
wood
and wood articles”

The rise in total goods exports was led by milk powder, up $191 million (28 percent) from February 2019. This was price-led as quantities were little changed.

Partly offsetting the rise were falls in forestry products (down $124 million or 27 percent, mainly reflecting a fall in untreated logs), and fish (down $47 million or 27 percent).

Overall, meat export values fell slightly in February 2020 (down 1.4 percent), with a fall in sheep meat partly offset by a rise in beef.

Average prices per tonne were up for both beef and lamb, despite lower total export volumes for both commodities.

In February 2020, New Zealand exported less beef to China than in the same month last year, but more was shipped to the US.

“The value of monthly beef exports to the US was higher than to China for the first time since early 2019,” Mr Allan said.

“Higher quantities of New Zealand beef exports were sent to the US, rather than China, following the COVID-19 outbreak in China.”

MonthChinaUnited StatesAll other destinations
Feb-18100279861777209010650601
Mar-1888649261632536311005052
Apr-1888267422118351211268838
May-18107716972693388012328536
Jun-18115687912294620012468472
Jul-18124084041992709212057264
Aug-186707191830673910411807
Sep-18737887354105759731786
Oct-18567515853259959170349
Nov-18101566981041545311876472
Dec-18153873341115786813109960
Jan-1910868456132960668431226
Feb-19175116501409295610763060
Mar-19203091231781166510753625
Apr-19181070021567091910324802
May-19212525881875701811703627
Jun-19252897861207292111310914
Jul-192030322893757068415165
Aug-191544765253686837303133
Sep-191528169636901137406397
Oct-191512557532421857281282
Nov-191833997845332038782297
Dec-192220563394958649770130
Jan-2017775355130501689948378
Feb-2069831551960028113078552

/Stats NZ Public Release. View in full here.