Dairy and other farming exports are keeping NZ afloat
While the rest of the country slowly awakens from the mire of recession our agricultural sector keeps humming along.
Latest reports show that New Zealand’s traditional exports such as dairy products and meat have lead the country to its largest monthly trade surplus in nearly 20 years.
According to Statistics NZ, for the month of April 2011 we had a surplus of $1.1 billion or 24% of the value of exports – with total exports for the month valued at $4.7 billion, up $691 million (17%) from April 2010
Leading the country’s export surge was the milkpowder, butter and cheese commodity group, up $287 million (32%), spread over a range of markets.
Meat and edible offal were up $79 million (13%), led by frozen lamb cuts with bone in and frozen beef cuts. Meanwhile, other primary product exports were also up with wool increasing by $32m (58%) and forestry receipts growing by $41m (15%).
The figures also show that China provided exporters with the greatest boost, up $126m (27%) over a range of commodities. The next largest increase was Algeria, up $88m to a level six times higher than April 2010, largely through imports of milkpowder and anhydrous milk fat.
“This is the highest monthly surplus ever recorded and the highest in almost 20 years as a percentage of exports,” says Statistics NZ overseas trade manager Neil Kelly.
“Contributing to the surplus, exports in April 2011 reached $4.7 billion, also a new high.”
So is there anyone out there who still does not think New Zealand’s current and future prosperity is inextricably linked to farming or the agriculture sector?
Phil Goff, Stuart Nash, Bernard Hickey et el please take note!