New Zealand's total export value increased in 2022
New Zealand's total exports saw a growth of 14 per cent to NZ$72.2 billion ($46.92 billion) in the year ended December 2022 compared with 2021, mainly driven by price inflation, the country's statistics department said on Monday.
WELLINGTON: New Zealand's total exports saw a growth of 14 per cent to NZ$72.2 billion ($46.92 billion) in the year ended December 2022 compared with 2021, mainly driven by price inflation, the country's statistics department said on Monday.
Annual imports also rose sharply to NZ$86.7 billion, up 23 per cent, Xinhua news agency quoted Stats NZ as saying.
'Price inflation has been a topic of interest in 2022, and we're seeing the results of it in these large increases,' international trade manager Alasdair Allen said, adding that many major export commodities eased in volume but saw price increases drive higher values across the year.
Dairy, meat and other animal products lead increase in exports, Allen said, adding that the largest increase for the year ended December 2022 was for milk powder, butter, and cheese, New Zealand's largest export commodity group, making up 28 per cent of the total exports over the year.
However, horticulture exports see falls in export values due to lower volumes, he said, adding that fruit fell overall in 2022, with the value down 2.3 per cent and quantities of fruit falling 7.7 per cent.
Kiwi fruit led the fall in fruit, Allen said, adding, 'it was a tough season overall for fruit'.
'Kiwi fruit diseases, labour shortages, and unseasonable weather patterns all played a role in the figures we're seeing, characterized by lower quantities,' he said.
Avocados also fell 28 per cent due to lower quantities, Allen said, adding that the fall in onions could be linked to the unusually dry season, as well as raised costs in production materials such as fertilizers and diesel.
Wine exports rose 15 per cent in values, with both quantities and price per liter rising, statistics showed.