New Zealand exports reach record high

Te Whanganui-a-Tara - New Zealand exports reached a new high last month, off the back of record export values for logs and beef, Stats NZ says.

In June, the value of all goods exports rose $871 million, up 17 percent, from June 2020 to $6 billion. The previous high for exports was in May at $5.9 billion.

Exports of logs and wood reached a new high, up $105 million (23 percent) from June last year to $561 million. This increase was driven by logs. Log exports value rose $87 million to reach record levels.

The average value of untreated log exports has been steadily rising from the low in July 2020 to reach $199 per cubic metre last month.

Beef exports rose $31 million to achieve a new high of $411 million. The increase was quantity driven with volumes up 8.5 percent. The previous high for beef export values was 15 months ago at $405 million.

Milk powder, butter, and cheese also drove the rise in total exports, up $384 million. Kiwifruit also rose $129 million (43 percent) from June last year.

China continues to receive the largest share (32 percent) of New Zealand exports. China accepted $703 million (44 percent) of dairy, $367 million (90 percent) of logs, and $329 million (41 percent) of meat.

June also saw record-breaking imports for vehicles, parts and accessories with overall monthly imports valued at $5.7 billion for last month, up 1.1 billion from June last year.

The rise was driven by vehicles, parts and accessories, up $610 million (166 percent) to $977 million.

This is the highest value for vehicles, parts, and accessories on record, with the previous peak at $923 million in May 2018.

The majority of vehicles for transport of goods (55 percent) were imported from Thailand. The monthly trade balance was a surplus of $261 million.

In the June 2021 quarter, total exports reached its highest ever value, $17.2 billion, driven by two record export months in May and June 2021.