Exports from New Zealand increased 2.8 percent year-on-year to NZD 5.01 billion in June 2019, after a downwardly revised 7.4 percent gain in the previous month but below market consensus of NZD 5.29 billion. Exports were mainly driven by higher sales of logs, wood and wood articles, which rose 16 percent to NZD 472 million. Additionally, sales of milk powder, butter & cheese advanced 3.5 percent to NZD 1.15 billion; and exports of meat and edible offal went up 2.5 percent to NZD 0.6 percent. Meantime, sales of petroleum and products other than crude oil dropped 97 percent to NZD 3 million. By destination, exports went up to China (27.1 percent), Malaysia (18.6 percent), and Japan (2.6 percent). In contrast, sales went down to the EU (-15.7 percent), Australia (-6.8 percent), the US (-6.3 percent) and South Korea (-5.0 percent). Exports in New Zealand averaged 1395.66 NZD Million from 1951 until 2019, reaching an all time high of 5743.83 NZD Million in May of 2019 and a record low of 19.68 NZD Million in August of 1954.
Exports in New Zealand is expected to be 3900.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in New Zealand to stand at 5100.00 in 12 months time. In the long-term, the New Zealand Exports is projected to trend around 5300.00 NZD Million in 2020, according to our econometric models.