New Zealand lamb exports are sizzling

Getty Images / Stringer

New Zealand’s trade surplus swelled to $NZ294 million in May, driven by a surge in exports which hit $NZ5.42 billion, the second-highest level on record.

The trade surplus was the highest level since December last year.

Meat exports, particularly for lamb, were a major factor behind the increase.

As seen in the chart below from Statistics New Zealand (StatsNZ), lamb exports surged to the highest level on record.

StatsNZ

“Meat exports were up $NZ119 million, or 17%, to $812 million. Quantity was also up 12%,” StatsNZ said.

“Lamb exports were the biggest contributor to the rise in meat with value up $NZ89 million, or 32%, and quantity up 22%.

“Exports of lamb were up to all major markets, including China and the European Union.”

Beef exports also increased by $NZ16 million to $NZ359 million, contributing to the overall lift in exports.

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