While export revenue in August 2016 fell heavily for the NZ dairy and beef and sheep sectors, the forestry sector is enjoying a rebound returning to numbers not seen since 2013.
“The significant fall in export value this month comes off the back of high export volumes in the June quarter,” says Statistics New Zealand senior manager Stuart Jones.
“Logs are the only major commodity to continue high volumes and values through to August,” he says.
Led by untreated logs, wood and wood article exports on August 2016 rose over $100 million, 3.7% higher from the previous high in August 2013 (and 34% higher year on year) to offset the fall in milk product and meat exports report Statistics New Zealand.
Milk powder, butter and cheese exports fell $135m (22%) year on year, with milk powder leading the decline, down $90 million.
Meat and edible offal for both beef and lamb had a significant fall, down $111m (26%) year on year.
Fruit, wool, casein, and mechanical machinery also contributed to the fall in exports which was down $323 (8.7%) from August 2015.
Capital goods lead the fall in August 2016 down $195 million (45%) year on year. Crude oil fell $106 million (38%) year on year and saw a 16% decline in quantity.
However, excluding petroleum products and aircraft and parts, goods imports rose $182 (4.4%) year on year.
