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

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news