Exports edged down 0.5 percent year-on-year to NZD 5.48 billion. It was the second-highest value on record for monthly total exports, the previous high was in December 2017. Sales were mainly dragged by meat & edible offal (-9.7 percent to NZD 649 million); aluminium & aluminium articles (-40.9 percent to NZD 101 million); and milk powder, butter & cheese (-0.9 percent to NZD 1860 million). In contrast, exports rose for crude oil (117.2 percent to NZD 146 million) and preparation of milk, cereals, flour & starch (54 percent to NZD 190 million). Among top trade partners, sales dropped to the US (-8.8 percent); Japan (-19.5 percent) and South Korea (-7.5 percent). On the other hand, exports to China (+14.3 percent); Australia (+14.4 percent) and the UK (+13.2 percent) increased. Exports in New Zealand averaged 1368.34 NZD Million from 1951 until 2018, reaching an all time high of 5508.34 NZD Million in December of 2017 and a record low of 19.68 NZD Million in August of 1954.
Exports in New Zealand is expected to be 5500.00 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 4900.00 in 12 months time. In the long-term, the New Zealand Exports is projected to trend around 5100.00 NZD Million in 2020, according to our econometric models.