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

 

Strong start to dairy export season

Dairy led the rise in goods exports in November 2019 as milk powder exports reached $1.1 billion, Stats NZ said today.

This is the highest value of milk powder exports for a November month since dairy exports peaked in 2013.

The value of dairy exports (milk powder, butter, and cheese) increased $348 million in November 2019. Dairy was the main contributor to total goods exports reaching $5.2 billion, up $371 million from the same month last year.

Milk powder exports had the largest increase within the dairy category, up $252 million from the same month last year.

“Typically, exports of milk powder go over $1.0 billion in December months, the peak of the dairy export season,” international statistics manager Darren Allan said.

“Since the start of the 2019/20 season we’ve seen higher quantities and prices for milk powder exports compared with the previous season. The high this month was mainly driven by price, but quantities were also up.”


Most milk powder exports were to China, up $260 million from November 2018, to reach $711 million this month.

Butter exports to China also rose $44 million to reach $70 million in the November 2019 month.

This rise in dairy exports to China contributed to a record monthly high of $1.9 billion worth of total goods exports to China in the November 2019 month.

“While monthly exports to China were up 36 percent in November, exports to eight of New Zealand’s top 10 markets fell, including key export markets of Australia, USA, Japan, and South Korea.”

Other significant contributors to the goods exports rise included beef and lamb, up $52 million and $31 million, respectively.

These rises were partly offset by a fall in untreated logs, down $58 million. This is the fifth consecutive month untreated logs export values have fallen compared with the same time last year, largely due to falls in demand from China.

Green kiwifruit also fell $21 million as the 2019 kiwifruit season comes to an end.

Imports

Monthly goods imports rose $119 million from the same month last year to reach $6.0 billion in November 2019.

Trade deficit for November

The monthly trade balance was a deficit of $753 million.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>