Overseas trade boost continues thanks to farmers

Despite one of the toughest seasons in memory, the agricultural sector’s contribution to the export economy has maintained its high, according to the latest Statistics New Zealand Overseas Merchandise Trade statistics.

“Every New Zealander can be happy with this result, which follows December’s positive figures,” says Philip York, Federated Farmers economics and commerce spokesperson.

“Merchandise exports for the year to December 2010 were up 9.6 percent to $43.5 billion overall. This boost was led by dairy and forestry which were up 29 percent and 27 percent respectively, great numbers in these tough economic times.

“As we saw in Federated Farmers Farm Confidence Survey, farmers are considerably more positive about the profitability of their own farms over the next 12 months. This is great for our economy as a whole.

“More than half of the total exports for the year came from agricultural exports. Out of the top ten exports, agriculture accounts for an astonishing 74 percent, or $20.9 billion out of $28.1 billion, underlining the sectors importance to the national economy.

“2010 will be remembered as a tough, La Nina stricken season that saw some brutal weather conditions for our farmers to deal with on top of tough economic conditions worldwide.

“These Overseas Merchandise Trade statistics show how robust the sector is, but more importantly just how important it is to the country’s well-being in general,” Mr York concluded.