Milk powder, butter and cheese cause decline in New Zealand exports

WELLINGTON, July 22 (Xinhua) — New Zealand’s exports of milk powder, butter and cheese fell 10 percent to NZ$1.5 billion (US$900 million) in June, compared with the same month last year, causing a decline in goods exports, statistics agency Stats NZ reported on Monday.

New Zealand’s goods exports fell 0.1 percent to NZ$6.2 billion (US$3.73 billion) in June 2024, compared with June 2023, while goods imports fell 13 percent to NZ$5.5 billion (US$3.31 billion), with a monthly trade balance surplus of NZ$699 million (US$420.79 million), Stats NZ said.

Other dairy products, including infant formula and casein and caseinates, also rose during the period, the report said.

The decline in exports was offset by an 18 percent increase in fruit exports over the period, with kiwifruit leading the way, rising 21 percent to NZ$423 million (US$254.64 million), Stats NZ said.

Statistics show that the import of oil and oil products fell the most. The import of oil and oil products fell by 55 percent.