In the September 2012 quarter, seasonally adjusted dairy export volumes rose 32 percent, Statistics New Zealand said today. Milk powder was the largest contributor to this rise.
Dairy products made the largest contribution to a 9.7 percent rise in seasonally adjusted export volumes. Meat export volumes rose 15 percent. Import volumes rose 0.7 percent, led by intermediate and capital goods.
"Dairy export volumes are at record levels, after adjusting for seasonal effects," prices manager Chris Pike said. "Dairy values remain at high levels, even though export prices have fallen for five consecutive quarters."
Export prices fell 6.3 percent, led by dairy prices (down 13 percent), while import prices fell 3.3 percent, led by a fall in petroleum and petroleum product prices (down 13 percent).
In the September 2012 quarter, the terms of trade fell 3.2 percent. A fall in the terms of trade means that fewer imports can be funded by the same quantity of exported goods. The terms of trade are 9.1 percent lower than a year ago.
The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.
Overseas Trade Indexes (Volumes): September 2012 quarter (provisional) – Information release
Overseas Trade Indexes (Prices): September 2012 quarter (provisional) – Information release