The Ministry for Primary Industries’ (MPI) new combined primary industry statistics for the March 2012 quarter (with data from the seafood sector now included) show that the sector accounted for 71% of all NZ merchandise exports in the year to March 2012.
Reasons were: better-than-usual pasture growth during the March 2012 quarter, resulting in near-record carcase weights for slaughtered livestock and an 11.5% increase in milk solids’ production, compared with the same quarter in 2011. However, the increased production was counterbalanced by a stronger NZ dollar and easing international dairy prices. The result was that overall primary sector export revenue for the quarter was down 2.4% on the previous year (to $8.3 billion). However, total export earnings for the year to March 2012 were up 6.2% on the previous year at $32.3 billion.
Total seafood export earnings were up by 9.4% in the March quarter. Forest product export revenue declined 14%, but it was still the second-highest quarter for forest products on record.
Read the report here…
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