30th January 2023 – (Madrid) New Zealand’s total exports saw a growth of 14 percent to 72.2 billion NZ dollars (46.92 billion U.S. dollars) in the year ended December 2022 compared with 2021, mainly driven by price inflation, the statistics department Stats NZ said on Monday.
Annual imports also rose sharply to 86.7 billion NZ dollars (56.34 billion U.S. dollars), up 23 percent, Stats NZ said.
“Price inflation has been a topic of interest in 2022, and we’re seeing the results of it in these large increases,” international trade manager Alasdair Allen said, adding that many major export commodities eased in volume but saw price increases drive higher values across the year.
Dairy, meat and other animal products lead increase in exports, Allen said, adding that the largest increase for the year ended December 2022 was for milk powder, butter, and cheese, New Zealand’s largest export commodity group, making up 28 percent of the total exports over the year.
However, horticulture exports see falls in export values due to lower volumes, he said, adding that fruit fell overall in 2022, with the value down 2.3 percent and quantities of fruit falling 7.7 percent.
Kiwifruit led the fall in fruit, Allen said, adding, “It was a tough season overall for fruit.”
“Kiwifruit diseases, labor shortages, and unseasonable weather patterns all played a role in the figures we’re seeing, characterized by lower quantities,” he said.
Avocados also fell 28 percent due to lower quantities, Allen said, adding that the fall in onions could be linked to the unusually dry season, as well as raised costs in production materials such as fertilizers and diesel.
Wine exports rose 15 percent in values, with both quantities and price per litre rising, statistics show.