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Dairy exports continue to fall from late 2013 highs
Dairy exports continue to fall from late 2013 highs
23 December 2014
Total goods exports fell 9.5 percent to $4.0 billion in November 2014 compared with November 2013, Statistics New Zealand said today. Imported goods fell 1.3 percent to $4.2 billion.
Dairy exports drove the fall, down 27 percent, with the quantity down 3.1 percent. The fall in dairy reflects the record high levels exported, mainly to China, in November 2013. A 20 percent rise in meat exports partially offset the fall, led by a price-driven rise in frozen beef.
“The fall in export values reflects a return from the high values late last year, led by China,” international statistics manager Jason Attewell said. “The trend for exports to China is 42 percent lower than the series peak in December 2013, and is now at similar levels to 2012.”
The monthly trade balance for November was a deficit of $213 million (5.3 percent of exports). This is the smallest November deficit since 2010. Record high exports late last year resulted in the first trade surplus for a November month ($153 million) since 1991.
For more information about these statistics: Visit Overseas Merchandise Trade: November 2014
ENDS
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