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

 

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:


Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news