Annual exports to China dropped 26% in the year through to April to $8.45b because of weaker demand for commodities such as whole milk powder. Exports of milk powder, butter and cheese – NZ’s largest commodity export group – fell 27% to $888m in April from the previous year because of lower quantities of whole milk powder and lower prices overall.
“The value of whole milk powder we sent to China in April 2015 was a fifth of the April 2014 value,” international statistics manager Jason Attewell said.
“Volumes were a third of what they were in April 2014 and lower prices made up the rest of the fall in value.”
Exports in April declined 5.5% to $4.17b from the same period last year.
Fruit exports rose 21% to $360m, led by kiwifruit. Meanwhile, exports of logs, wood and wood articles slipped 8.7% to $311m, led by pine logs. Crude oil exports declined 43% to $84m.
Imports in April rose 2.6% to $4.04b from the same period last year. Capital goods imports rose 26%, led by transport equipment such as aircraft and parts. Imports of consumption goods increased 6.1%, led by food and beverages.
