Employer Bulletin | 1 July 2024
- Jul 1, 2024
- 2 min read
New Zealand’s total exports were valued at $7.2 billion in the May 2024 month, according to figures released by Stats NZ today.
This is the first time that monthly exports have reached $7 billion. Trade values are not adjusted for price changes.
The previous high for monthly exports was $6.95 billion in May 2023.
“May months are typically a peak time for exports, being the height of the fruit season, and strong periods for meat, dairy, and vegetable exports,” international trade manager Alasdair Allen said.
The rise in exports ($202 million) in the May 2024 month was led by an increase in exports to the United States, up $255 million from May 2023 to $1.0 billion. This is the first time that monthly exports to the US have reached $1 billion.
The US is our second biggest export market, with an annual value of $8.8 billion for the year ending May 2024. China was the number one market for exports from New Zealand ($17.9 billion value in the same period).
Leading the rise in exports to the US was beef, up 31 percent in May 2024 from May 2023. In contrast, beef exports to China, our other main market for beef, were down 45 percent
In today’s Bulletin
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Court increases remedies ordered to employee after challenging decision
Authority considers whether grievances were raised in time
Constructive dismissal and discrimination claims
Seven news updates of interest for employers including: New WorkSafe board appointments to address a history of poor financial management; Overseas merchandise trade: May 2024; WorkSafe New Zealand Chair announces new Chief Executive, Sharon Thompson; Motorcyclist dodges death at cattle crossing; Exports reach $7 billion in May; More support for drought-affected communities; and Job seekers to report on progress after six months from today.
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