Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Another primary export joins the top-10 list

Media Release


26 May 2014

Another primary export joins the top-10 list

For the second consecutive month, exports of caseins and caseinates are New Zealand’s tenth largest export replacing aluminium and aluminium articles.

“The latest merchandise trade statistics for the year to April 2014 point to how the primary industries are hitting the afterburners,” says Bruce Wills, Federated Farmers President.

“For every dollar in primary export earnings another 50 cents is captured off-farm, so the April trade result is massive for New Zealand in so many ways.

“While the standout remains dairy, up almost $3.8 billion on the same point last year, logs have surged by over a quarter meaning almost all the primary industries can stand up and take a bow.

“While exports of caseins and caseinates debuted at number-ten in the year to March, the April statistics sees it still in tenth spot. Caseins and caseinates generated $39 million more for New Zealand in this period than exports of aluminium and aluminium articles.

“Indeed, off this latest trade result, this category is now only $10 million behind exports of electrical machinery and equipment.

“Of course we are now in the shoulders and the drop off in peak dairy prices is yet to filter through. I expect dairy commodities will come back but it is an encouraging marker.

“Out of our top-10 merchandise exports in this period, the primary industries claimed seven places. Primary generated 89.9 percent of the top-10’s export income worth $30.1 billion.

“If we add in other primary exports, like wool, which was itself up by almost 25 percent in the month of April alone, we are now closing on the $40 billion primary export barrier.

“We are tracking towards a doubling of primary exports by the end of this decade, so long as we have infrastructure and policy supporting us.

“While China remains our largest export destination, with exports in the year to April up an amazing 54 percent, exports to the European Union were also up by 10.5 percent. This is a welcome sign the EU may be emerging from recession.

“But if you want a brilliant case for the Trans Pacific Partnership then these export figures provide it. Take Taiwan. It was our tenth largest export destination in February but is now number eight with exports up 15 percent on April last year.

“That’s due to trade agreements now paying off and it is telling that the export destinations in reverse or flat lining are mostly countries we do not have trade agreements with.

“The TPP would be like adding a supercharger to New Zealand employment opportunities, so long as it eliminates agricultural trade barriers and tariffs,” Mr Wills concluded.
The April 2014 Overseas Merchandise Trade Statistics are available here


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Interest Rates: NZ Dollar Jumps After RBNZ Trims OCR

The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. More>>

ALSO:

Drones: New 'World-Class' Framework For UAVs

The rules, which come into effect on 1 August, recognise the changing environment and create a world-class framework that accommodates ongoing development while still ensuring the safety of the public, property and other airspace users. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news