Exports from New Zealand increased 8.5 percent year-on-year to a record high of NZD 5.81 billion in May 2019, after a downwardly revised 10.8 percent in the previous month and above market consensus of NZD 5.61 billion, mainly driven by higher sales of milk powder, butter & cheese, which jumped 15.2 percent to NZD 1.29 billion. Also, sales rose for preparations of milk, cereals, fluor & starch (41.3 percent); meat & edible offal (1.3 percent); fruit (8.8 percent); and fish, crustaceans, & molluscs (35.3 percent), while exports of mechanical machinery & equipment dropped 3.9 percent. By destination, exports went up to China (29.1 percent), South Korea (15.7 percent), Japan (12.5 percent), and the US (11.8 percent). In contrast, sales fell to Australia (-2.4 percent) and the EU (-8.1 percent). Exports in New Zealand averaged 1391.33 NZD Million from 1951 until 2019, reaching an all time high of 5810 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 4800.00 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 4800.00 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.