Export volumes in New Zealand increased 10 percent for the second quarter of 2016, after adjusting for the usual seasonal patterns.
New Zealand’s export volumes rose 10 percent for the second quarter of 2016, after adjusting for the usual seasonal patterns, Statistics NZ said.
Export volumes rose thanks to dairy product exports jumping 13 percent on a seasonally adjusted basis. Meat, forestry and fruit export volumes also increased during the quarter.
The rise in export volumes more than offset a 1.9 percent drop in export prices for the quarter. “That meant the total export value was actually up more than 7 percent for the June quarter,” Statistics NZ said. “The fall in export prices was led by dairy prices, which fell by 7.1 percent.”
Meanwhile, import prices ticked up 0.2 percent, influenced by crude oil, leaving terms of trade down 2.1 percent for the quarter.
New Zealand’s export volumes rise amid slipping export prices
