Dairy, beef, and lamb exports rise in October

Exports of dairy products, beef, and lamb, particularly to China, increased in value in October 2019, Stats NZ said today.

However, the rises were partly offset by falls in logs and kiwifruit.

In October 2019, the value of total goods exports rose $206 million (4.3 percent) from October 2018 to reach $5.0 billion.

The rise in exports was led by milk powder, up $194 million (32 percent) from October 2018. The rise was quantity-led, but unit values were also up.

“In each month at the start of the 2019/20 export season, the total value of milk powder exports was up on the same month of the previous year,” international statistics manager Darren Allan said.

“These rises reflect higher export quantities and higher prices.”

Month Value
Oct-16 530071592
Nov-16 689544767
Dec-16 856782189
Jan-17 706009539
Feb-17 556700612
Mar-17 583338687
Apr-17 553862366
May-17 597597430
Jun-17 635515131
Jul-17 561121843
Aug-17 184541457
Sep-17 344611544
Oct-17 660221499
Nov-17 768789311
Dec-17 1076899688
Jan-18 759915789
Feb-18 553951902
Mar-18 557429925
Apr-18 559585837
May-18 491940110
Jun-18 465654900
Jul-18 694147145
Aug-18 200357539
Sep-18 311331733
Oct-18 606161288
Nov-18 858220547
Dec-18 1099184143
Jan-19 856881709
Feb-19 678916430
Mar-19 755573189
Apr-19 691219530
May-19 631050167
Jun-19 541819995
Jul-19 608114199
Aug-19 227501739
Sep-19 440782803
Oct-19 799951903
Month Value per kg
Oct-16 3.15
Nov-16 3.43
Dec-16 3.72
Jan-17 3.93
Feb-17 4.14
Mar-17 4.33
Apr-17 4.42
May-17 4.22
Jun-17 3.95
Jul-17 3.86
Aug-17 4.28
Sep-17 4.15
Oct-17 4.14
Nov-17 4.29
Dec-17 4.19
Jan-18 3.9
Feb-18 3.76
Mar-18 3.76
Apr-18 3.99
May-18 4.33
Jun-18 4.35
Jul-18 4.56
Aug-18 4.86
Sep-18 4.64
Oct-18 4.38
Nov-18 4.12
Dec-18 4.05
Jan-19 3.91
Feb-19 3.91
Mar-19 4
Apr-19 4.19
May-19 4.49
Jun-19 4.69
Jul-19 4.6
Aug-19 5.01
Sep-19 5.05
Oct-19 4.91

Exports of lamb (up $67 million or 27 percent), and beef (up $59 million or 39 percent) were the other main contributors to the rise in exports. The quantity of lamb exports rose 20 percent in October 2019 compared with October 2018, and that of beef exports rose 27 percent over the same period. Unit prices of both beef and lamb were also up on the same month in 2018.

These rises were partly offset by falls in untreated logs (down $93 million), and green kiwifruit (down $47 million).

“Export prices of untreated log exports in October have now increased by 11 percent since a low point was reached in July this year,” Mr Allan said.

“However, the total export value of untreated logs continues to be lower than the same month of the previous year, and in October, quantities were down by 19 percent.”

Month Quantity
Oct-14 1620540
Nov-14 1443711
Dec-14 1311598
Jan-15 912694
Feb-15 1410742
Mar-15 1383207
Apr-15 1448009
May-15 1071682
Jun-15 1384105
Jul-15 1186098
Aug-15 1099630
Sep-15 1150950
Oct-15 1176473
Nov-15 1085043
Dec-15 1382778
Jan-16 952174
Feb-16 1266974
Mar-16 1349081
Apr-16 1380437
May-16 1398764
Jun-16 1243573
Jul-16 1251545
Aug-16 1740590
Sep-16 1396935
Oct-16 1435127
Nov-16 1220655
Dec-16 1315332
Jan-17 892253
Feb-17 1370727
Mar-17 1642835
Apr-17 1689138
May-17 1484623
Jun-17 1696691
Jul-17 1565899
Aug-17 1688301
Sep-17 1561369
Oct-17 1868388
Nov-17 1878083
Dec-17 1605155
Jan-18 1054065
Feb-18 1621376
Mar-18 1963386
Apr-18 1696611
May-18 1888757
Jun-18 1573998
Jul-18 1984379
Aug-18 1852292
Sep-18 1781015
Oct-18 1976984
Nov-18 2011086
Dec-18 1631326
Jan-19 1288811
Feb-19 1843428
Mar-19 2160116
Apr-19 1837467
May-19 1938823
Jun-19 1893227
Jul-19 1877145
Aug-19 1745715
Sep-19 1822754
Oct-19 1596625
Month Value per cubic metre
Oct-14 129.93
Nov-14 137.1
Dec-14 146.51
Jan-15 139.94
Feb-15 142.34
Mar-15 130.81
Apr-15 123.66
May-15 119.09
Jun-15 116.69
Jul-15 129.74
Aug-15 128.7
Sep-15 121.08
Oct-15 121.57
Nov-15 136.91
Dec-15 149.99
Jan-16 150.09
Feb-16 147.76
Mar-16 150.01
Apr-16 146.57
May-16 154.15
Jun-16 154.87
Jul-16 141.11
Aug-16 140.16
Sep-16 140.02
Oct-16 144.3
Nov-16 147.18
Dec-16 147.97
Jan-17 152.93
Feb-17 152.72
Mar-17 153.2
Apr-17 154.47
May-17 159.77
Jun-17 153.59
Jul-17 155.24
Aug-17 153.49
Sep-17 161.7
Oct-17 161.68
Nov-17 173.21
Dec-17 172.31
Jan-18 170.99
Feb-18 164.52
Mar-18 162.85
Apr-18 159.93
May-18 165.34
Jun-18 171.22
Jul-18 172.28
Aug-18 161.53
Sep-18 165.41
Oct-18 169.42
Nov-18 170.45
Dec-18 165.35
Jan-19 174.45
Feb-19 176.6
Mar-19 175.82
Apr-19 166.62
May-19 169.13
Jun-19 155.04
Jul-19 136.82
Aug-19 137.67
Sep-19 144.26
Oct-19 151.42

The monthly movements in dairy products, beef, lamb, and logs were led by exports of the respective commodities to China, New Zealand’s largest export partner.

Exports to China rose $279 million in October 2019. Exports to other main markets were little changed, except for the European Union, down $97 million on a year earlier.

Transport equipment leads fall in imports

The value of goods imports in October 2019 fell $86 million from October 2018, to $6.0 billion.

The leading contributors to the fall were industrial transport equipment (such as railway engines, trucks, and aircraft), down $120 million, processed industrial supplies (such as pharmaceutical products), down $84 million, and crude oil, down $34 million.

These falls were offset by rises in parts and accessories of transport equipment (such as aircraft parts), machinery and plant, and processed fuels such as diesel.

Trade deficit in October

The monthly trade balance in October 2019 was a deficit of $1.0 billion. The average monthly deficit in the previous five October months was $948 million.

/Stats NZ Public Release. View in full here.