More sheepmeat to China, helps boost export value

A rise in sheepmeat exports to China helped to boost the value of New Zealand’s exported goods in February 2013, compared to a year earlier.

The value of exported goods rose $290 million (eight percent) to $3.9 million in February 2013, compared with February 2012, according to Statistics New Zealand figures released today. This was led by an increase in exports to China, which were up $259 million (49 percent).

“Milk powder, pine logs and sheepmeat, led the rise in exports to China,” industry and labour statistics manager Louise Holmes-Oliver says. “China drove the overall rise in exports.”

Exports of sheepmeat to China were up $38 million over the period, alongside whole milk powder (up 80 percent) to $106 million and pinus radiata logs up 43 percent.

The value of imported goods rose $86 million (2.5 percent) to $3.5 billion. Consumption goods led the rise, up $90 million, while capital goods fell $29 million and intermediate goods fell $15 million.

The trade balance for February 2013 was a surplus of $414 million (11 percent of exports). February months have been in surplus since 2007.

Overall, the trend for exports in 0.7 percent lower than its highest point, of November 2011. The trend for exports of meat and edible offal is 6.4 percent higher than its most recent low point, of March 2012, but is still 10 percent lower than its record high, of July 2011.

Overseas Merchandise Trade Feb 2013

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