The strong meat and log sales helped offset an ongoing dive in dairy exports as global prices slumped last year.
Statistics NZ said the seasonally adjusted value of goods exported rose 0.9 per cent in the December 2014 quarter.
Meat exports were up 15 per cent, a gain of $210 million by value. Meat volumes were up 4.6 per cent.
«Meat export values and quantities are hitting new highs on the back of higher beef prices,» Statistics NZ international statistics manager Jason Attewell said.
«Combined with an increase in other exports, particularly logs, total exports rose despite a fall in dairy products.»
Seasonally adjusted milk powder, butter, and cheese exports fell 9.5 per cent ($328m) in the December 2014 quarter. That was despite a lift in volumes by 2.6 per cent.
Dairy values have fallen 26 per cent since the peak in December 2013. The fall in recent quarters was price driven, rather than volume.
Total imports were down just 0.2 per cent to $13 billion for the quarter.
The seasonally adjusted trade balance for the December 2014 quarter was a deficit of $904 million, equivalent to 7.4 per cent of exports.
For the full year, the trade balance was in deficit by $1.2b (2.3 per cent of exports).
Goods exports in 2014 were up $2.1b to $50b from the December 2013 year. The gain was led by milk powder, butter, and cheese, due to whole milk powder, up 8.6 per cent ($575m), reflecting high prices at the start of 2014 before markets took a dive.
Whole milk powder exports to Algeria rose $279m but fell $265m to China.
«Total exports to China for 2014 rose $26m and finished just $9m short of $10b,» Attewell said.
For the same period, goods imports were up $2.9b to $51b, because of a number of aircraft imports.
Source: Stuff
