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- New Zeeland: trade balance lower in July due to meat exports falling
New Zeeland: trade balance lower in July due to meat exports falling
Beef and lamb exports to key markets fell in July, slicing into overall meat exports, Statistics NZ said today. In the month of July 2016, total exports were $4.0 billion and total imports were $4.4 billion.
Overall, meat and edible offal exports in July were down 19 percent on July 2015, to $408 million. The largest fall was in lamb exports, which fell 29 percent in value and 25 percent in quantity.
"The meat export falls this month are partly due to record meat exports this time last year," international statistics senior manager Jason Attewell said. "Meat values in July 2015, off the back of a record high meat season, were 31 percent higher than the average value for the previous five July months."
Dairy exports also fell in July (down $88 million). Milk powder fell $118 million but was partly offset by rises in butter and natural milk constituents. The fall in value of milk powder was price driven, as the quantity rose 0.9 percent.
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