Fruit and meat lead rise in July exports

Fruit and meat lead rise in July exports

26 August 2015

The value of total goods exported was $4.2 billion in July 2015, up $514 million (14 percent) compared with July 2014, Statistics New Zealand said today. Fruit exports led the rise, up 51 percent ($105 million) to $311 million.

Meat exports rose $99 million (24 percent) to $505 million in July 2015 when compared with the same month last year. The rise was led by beef, up $70 million (40 percent).

Milk powder, butter, and cheese exports showed little change, up $0.9 million (0.1 percent) to $932 million. Increases in cheese, dairy spreads, and milk protein concentrates offset the fall in milk powder exports (down $76 million).

“The small rise in dairy export values combined with the falling New Zealand dollar contributed to the rise in total exports value this month,” international statistics senior manager Jason Attewell said. “A weaker dollar means that exporters receive more New Zealand dollars for transactions in foreign currencies while
imports cost more.”

Goods imports rose $221 million (4.8 percent) to $4.8 billion in July 2015 compared with July 2014. Consumption goods rose $176 million and capital goods rose $161 million. Intermediate goods fell $96 million, led by crude oil.

In July 2015, the goods trade deficit was $649 million (15 percent of exports), compared with an average deficit of 9.2 percent over the previous five July months. For the year ended July 2015, the annual goods trade deficit was $2.7 billion.

This release focuses on our goods trade. Goods made up 73 percent of total goods and services exports and 75 percent of total imports for the year ended March 2015. Goods and Services Trade by Country: Year ended June 2015 will be available on 2 September 2015.

For more information about these statistics:

• Visit Overseas Merchandise Trade: July 2015

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