Friday, 30 March 2012 11:48

Small fall in forestry earnings

Written by Pamela Tipa

font size decrease font size increase font size
Print
Email

A developing oversupply of logs in China and continuing currency pressure has resulted in a small fall in New Zealand forestry export earnings for the latest quarter.

The Ministry of Agriculture and Forestry has this week released forestry production and trade figures for the December 2011 quarter.

The total value of New Zealand forestry exports for the quarter to 31 December 2011 was down $56.1 million on the previous December quarter, at NZ$1.1 billion.

But overall earnings were up for the 2011 calendar year (to 31 December), because China drove strong demand during the middle part of the year. The value of forestry exports increased by NZ$257.5 million to NZ$4.5 billion for the year.

Forestry still accounted for around 10% of New Zealand's total merchandise exports, at 9.8% for the 2011 calendar year (ending 31 December), compared with 10.2% the previous year.

Conditions were still challenging for the sawn timber industry, with total export earnings and volumes decreasing to NZ$751.0 million and 1.9 million cubic metres. MAF reports this is due to continuing weak housing sectors in the high-value United States and Australian markets, exacerbated by high exchange rates for key trading currencies.

For more information, go to the full reports in the Publications section of the MAF website.

More like this

A golden season for kiwifruit exports

According to new figures from Stats NZ, kiwifruit exports were valued at $3.1 billion in the year ended August 2024.

Zespri driving towards low-emissions international shipping

Zespri, in collaboration with ANL/CMA CGM, has initiated a feasibility study to investigate the potential for a low-emissions shipping corridor from Tauranga to Zeebrugge, Belgium, through the Panama Canal.

$160 billion cargo shipment deal

New Zealand’s major primary industry exporters have secured shipping capability to export $160 billion worth of products over the next 10 years.

Its all about ag exports

OPINION: The Public Service in New Zealand between 2017 and 2023 grew rapidly from 48,000 to over 64,000, and this does not include the use of consultants.

Diversifying exports a priority

Agriculture and Trade Minister Damien O'Connor recently addressed the NZ-China Business Summit in Auckland. He spoke about the importance of the Chinese market to NZ exporters but also the need to diversify our export footprint. Here's part of his speech:

Featured

Wilmar hands over US$725m ‘court security’ in Indo graft case

Reuters reports that giant food company Wilmar Group has announced it had handed over 11.8 trillion rupiah (US$725 million) to Indonesia's Attorney General's Office as a "security deposit" in relation to a case in court about alleged misconduct in obtaining palm oil export permits.

DairyNZ celebrates 60 years of economic survey tracking dairy sector evolution

DairyNZ is celebrating 60 years of the Economic Survey, reflecting on the evolution of New Zealand's dairy sector over time.

ASB launches new loan to help NZ farmers switch to solar power

As electricity prices soar, farmers appear to be looking for alternative energy sources.

Citrus NZ urges Kiwis to support local growers

There is an appeal to New Zealanders to buy local citrus fruit.

NZ avocado growers report mixed season amid weather challenges

Avocado growers are reporting a successful season, but some are struggling to keep their operations afloat following years of bad weather.

Dr John Roche calls for renewed focus on science careers for youth

It's time to start talking up science again, especially as a career for young people. That's one of the key messages from the Prime Minister's new chief science advisor, Dr John Roche.