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NZ Dairy Sales to China Boost Exports

27 July 2017

NEW ZEALAND - New Zealand dairy exports to China were up 102 per cent in value to reach NZ$373 million ($277 million) in June, and up 63 per cent in quantity, which boosts the country's exports, its statistics department Stats NZ said on Wednesday.

New Zealand exports rose 11 per cent year on year to reach NZ$4.7 billion($3.5 billion) in June, said a release from the department.

Milk powder, butter, and cheese led the rise, up 45 per cent to NZ$1.2 billion ($890 million) and up 11 per cent in quantity.

"The milk powder, butter, and cheese group continues to be a key export commodity, and accounts for over a quarter of our total exports," international statistics senior manager Daria Kwon said in the release.

Total monthly imports were valued at NZ$4.5 billion ($3.3 billion), up 7.7 per cent from June 2016, Stats NZ said.

Imports of cars led the increase in total imports in June, up 31 per cent to reach NZ$505 million ($375 million).

New motor cars led this increase, up NZ$86 million ($64 million) in value, which was 2,566 more new cars than in June 2016, and was the 11th consecutive increase in value year-on-year, it said.

The trade balance for June was a surplus of NZ$242 million ($180 million), or 5.1 per cent of exports. This is the fourth consecutive surplus, Stats NZ said.

TheCattleSite News Desk

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