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New Zealand record export volumes offset price fall in June quarter

Xinhua, September 1, 2016 Adjust font size:

The volume of goods New Zealand exported rose 10 percent in the quarter ending June 2016, the government statistics agency said Thursday.

Export volumes are at their highest levels since 1990, according to Statistics New Zealand.

New Zealand exported 796,000 tonnes of dairy products, with the seasonally adjusted volume up 13 percent. It made the largest contribution to the rise in export volume. The volume for dairy is at its highest level since the September 2012 quarter, when 832,000 tonnes of dairy was exported.

International statistics senior manager Jason Attewell said in a statement that while the amount of goods New Zealand exported was at record levels, price falls for key commodities meant the amount that New Zealand earned from exports was little changed.

This rise in export volumes, especially for dairy products, offset a 1.9 percent fall in export prices in the June quarter. The fall in export prices was led by dairy prices, which fell by 7.1 percent. Both overall export prices and dairy prices are at their lowest level since the December 2009 quarter.

Import prices rose by 0.2 percent, influenced by crude oil. This left the New Zealand terms of trade down 2.1 percent in the June quarter. Endit