A new high for exports

April 29th, 2014 at 3:00 pm by David Farrar

Stats NZ reports:

rose $671 million in the March month, to $5.1 billion. Milk powder, butter, and cheese led the rise in , up $474 million (45 percent) compared with March 2013.

“This is the first time monthly exports have exceeded $5 billion, and annual exports have exceeded $50 billion,” Mr Attewell said. “Record dairy exports pushed the values past these thresholds.”

Rather bad timing for Labour that one the day they release their policy aimed at fixing the export sector, exports hit an all time high. Some key stats:

  • Exports for the year to March 8.5% higher than a year ago
  • Exports for the March quarter 17.4% higher than a year ago
  • Trade surplus is $805 million compared to a $4.7 billion deficit in 2008/09
  • In last year dairy exports up 30.5%, forestry up 23.6%, textiles up 15.0%
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19 Responses to “A new high for exports”

  1. skyblue (206 comments) says:

    Timing is everything. One is reality the other theory (PARKER’S TOOL). Another crisis averted then.

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  2. Dave_1924 (101 comments) says:

    Labour can’t win a trick – the response is it ain’t broke don’t tinker….

    national need to leverage this wave of good news to start targeting a reduction in the size of the government spend – and use the savings to aggressively pay down government debt and start saving for the next global shock, as there is bound to be one in the next 7-10 years…

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  3. Judith (8,460 comments) says:

    Exports for the year to March 8.5% higher than a year ago

    Yeah, but how were they a year ago, or two years ago?

    It’s the bigger picture we need to see – like how has their overall performance been – its all very well quoting election year figures, but as we all know – its the complete term that matters – I think most Kiwis would prefer three years of average, compared to two years of shyte and one of inflated statistics.

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  4. peterwn (3,215 comments) says:

    A legal high that Labour-Greens will do their best to ban.

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  5. Jack5 (4,906 comments) says:

    A leading bank elaborating on today’s figures, included this statement:

    …we project that the annual trade surplus will expand further so that the annual current account deficit will decline further to around 2.5% of GDP in Q2 2014. From later this year we would expect to see the deficit expand gradually as dairy prices recede somewhat from their current exceptionally high levels and as import volumes continue to expand.

    So we still aren’t likely to end for years of these deficits, which give a broader picture of NZ’s commerce with the rest of the world.

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  6. mandk (885 comments) says:

    @ Judith,

    In the past five years (i.e. most of the time Nats have been in power) the value of exports has gone from $43.4bn to $50.1 bn.
    During the same period the value of imports has gone from $48.0bn to $49.3 bn.
    The trade balance has gone from -$4.7 bn. to +$0.8 bn.

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  7. igm (1,413 comments) says:

    Judith: Get on your zimmerframe and go join the b/shit in the rainbow room with “Tojo” and his sleezeballs.

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  8. igm (1,413 comments) says:

    Bet MSM don’t mention these facts, Cunliffe’s lying, nor Parker’s inability to manage our nation’s economy. These deadbeat leeches should be exposed for the frauds they are . . . but they won’t be by the left-wing crap in MSM, taking directives from Komrad Little.

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  9. Judith (8,460 comments) says:

    @ mandk (722 comments) says:
    April 29th, 2014 at 3:59 pm

    Thank you – some figures that matter.

    Whilst I accept that many are blind enough to take one years stats, I prefer to make my judgement from the total performance.
    In this case they are doing well, and keeping up with the rest of the world. Well done!

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  10. Judith (8,460 comments) says:

    @ igm (904 comments) says:
    April 29th, 2014 at 4:20 pm

    You have a problem with people who ask questions and want the full picture?? Got something to hide? ;-)

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  11. DRF (19 comments) says:

    interest.co.nz always comment on the trade statistics and at the bottom of the post is a graph of the time series back to 2002. The trade balance was clearly declining all the way through from 2002 to a low point of 30 Sep 08. Obviously as well as the change of government this is also the time the China FTA started to kick in but apart from that agreement, trade performance was close to catastrophic through the last Labour government.

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  12. dime (9,676 comments) says:

    “You have a problem with people who ask questions and want the full picture?? Got something to hide?”

    it just gets old when the question comes from a partisan hater of john key and everything national.

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  13. gump (1,553 comments) says:

    I’m no great friend of Labour. I voted National/Act at the last election.

    But our exports have risen on the back of the FTA with China – which was negotiated and signed by a Labour Government. So National are taking credit for something that they didn’t engineer.

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  14. Kea (11,878 comments) says:

    Labour have policy to fix this prosperity problem. It remains the only workable policy they have.

    Labour know that in order for people to veer far enough left they first must be made desperate and dependent on the State. Poverty of intellect and wealth are the lefts ally.

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  15. wikiriwhis business (3,883 comments) says:

    If exports are doing so well and we already have FTA’s why do we need TPP.

    TPP is goiung to get us into a lot of unwanted problems that will more than likely lead to misery

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  16. rangitoto (221 comments) says:

    Haven’t you heard the saying “don’t carry all your eggs in one basket”.

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  17. Judith (8,460 comments) says:

    @ dime (8,814 comments) says:
    April 29th, 2014 at 5:13 pm

    Nope, don’t hate National, just John Key (and don’t think much of Collins). If Gerry was their leader, i’d vote for him any day over any other of our MP’s (in all parties).

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  18. Paulus (2,565 comments) says:

    What a sorry reading Judith makes.
    Time for a Red Wine.

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  19. wreck1080 (3,815 comments) says:

    yep, the price of beans increased so we’re doing much better than last year.

    Hopefully the price of beans holds up .

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