10 Jun 2014

Record year for primary exports

6:03 am on 10 June 2014

The value of primary industry exports has reached a record $37.7 billion in the last year.

for most people.

The Ministry for Primary Industries expects the total value of primary exports in the year to this month to be $3.6 billion higher than the same period last year.

It says strong demand from China has driven the increase, particularly in the dairy and forestry sectors.

ASB Bank rural economist Nathan Penny said falling demand for dairy meant it was unlikely this year's record high would be repeated in 2015.

And he said wages are not growing significantly, mainly because fewer people are leaving New Zealand to work overseas.

The ministry is predicting the value of primary exports will drop by about $1.8 billion.

CTU president Helen Kelly said forestry and agriculture wages were on the decline.

Demand in the forestry sector helped drive the growth Photo: PHOTO NZ