Exports from New Zealand advanced 8.3 percent year-on-year to NZD 4.82 billion in February 2019, after rising 1.3 percent in January. Exports were mostly boosted by higher sales of milk powder, butter & cheese category, which jumped 24.3 percent to NZD 1346 million. Also, sales of logs and wood climbed 19.8 percent to NZD 472 million. On the other hand, exports of mechanical machinery and equipment decreased 6.3 percent to NZD 126 million and sales of crude oil dropped 70.8 percent to NZD 20 million. By destination, exports went up to China (32.5 percent), the EU (7.4 percent) and Australia (2.1 percent), but fell to South Korea (-18.0 percent), the US (-3.4 percent), and Japan (-2.5 percent). Exports in New Zealand averaged 1375.88 NZD Million from 1951 until 2019, 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.