Stats NZ have released a report noting a new high for New Zealand exports
In May 2024, New Zealand’s export sector reached a historic milestone with total exports valued at $7.2 billion, reported Stats NZ. This marked the first time monthly exports exceeded $7 billion, showing a $202 million increase from May 2023. Alasdair Allen from Stats NZ attributed this growth to peak export seasons for fruits, alongside strong performances in meat, dairy, and vegetable exports.
The United States played a crucial role in this achievement, with exports to the US rising by $255m to reach $1.0b, a record high for monthly exports to that market. Despite market challenges elsewhere New Zealand’s trade relations with the USA, our second largest trading partner, remained robust. Key exports to the US included beef, wine, sheep meat, natural milk constituents, and casein, contributing significantly to New Zealand’s export success. Overall, these statistics highlight New Zealand’s competitive edge and resilience in global markets and the importance of the US market for New Zealand.
You can read the full report on the Stats NZ website: www.stats.govt.nz/news/exports-reach-7-billion-in-may.