Overseas trade surges thanks to farmers

Despite extraordinarily difficult farming conditions, the agricultural sector’s contribution to the export economy has surged in the latest Statistics New Zealand Overseas Merchandise Trade statistics.

“Every New Zealander is a farmer off the back of the latest Overseas Merchandise Trade statistics,” says Philip York, Federated Farmers economics and commerce spokesperson.

“Half of the top ten exports in the year to November 2010 were from the agricultural sector so its time to back us for growth.

“I say this because of our top ten merchandise exports, the agricultural sector generated 73 percent of the value or $1.788 billion out of $2.417 billion.

“Our top five agricultural exports also generated some 49 percent of the value for all exports. The star performers being dairy and forestry, both up 23 percent and 24.9 percent respectively.

“Wine too was up 8.4 percent year-on-year while meat bucked the trend being down 5.1 percent.

“Then again, the industry expects this season’s lamb crop to be off around 10 percent due to drought and the Southland and South Otago storms.

“What these Overseas Merchandise Trade statistics show how agriculture is positively integral to the New Zealand economy,” Mr York concluded.