Meat exports look set for the future
The meat export sector looks like it will remain robust for some time but economists are warning the boost from other high commodity prices is set to falter.
Statistics NZ figures showed a $ 313 million rise in exports in August, compared with the same month last year. Imports were up even more, rising $523m, mainly because of a big shipment of oil.
The August trade deficit was big- ger than expected at $641m but is typical for the time of year as farm exports start to fall off.
The annual trade surplus has narrowed to about $1.1 billion but that was because of rising imports rather than a drop in exports.
The gain in exports in August was led by meat and offal sales, up $76m on the same month last year. Farm export returns were well up on last year, despite the high Kiwi dollar.