Katherine Rich: Business NZ CEO on exports rising to $29.9 billion in the December quarter

New Zealand’s exports are booming, driven by rising global demand for food. 

New trade figures show exports surged to $29.2 billion dollars in the December quarter – up $2.2 billion on a year earlier. 

Two-way trade also leapt to just over $61 billion. 

Business NZ CEO Katherine Rich told Mike Hosking the country produces enough food to feed around 50 million people. 

She says these products need to be sold for the highest value possible, which is what we're seeing for meat. 

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Episode Transcript

Speaker 1 (00:00):
So more data this morning that confirms the New Zealand
economy is building a head of steam as the recovery
takes whole. New export number show we pulled in almost
thirty billion twenty nine point two billion for the December quarter,
which is up two point two billion. There is up ten,
tourism up nine and a half, meet up twenty one
and a half. Two way trades also reached a new
high that's at sixty one point two. Catherine Riches, the
Business New Zealand bosson is with us. Catherine, good morning

(00:21):
to you.

Speaker 2 (00:22):
Good morning.

Speaker 1 (00:22):
Would you expect Q one to be better still? Have
we got to move on here?

Speaker 2 (00:27):
Well? I hope the trend continues today's yesterday's news was
certainly good for exporters and the local economy and it
just shows when the global demand for food strong, New
Zealand export numbers move quickly, so very positive.

Speaker 1 (00:41):
What is the supply demand curve? Have we got more
to sell off? The world wants it?

Speaker 2 (00:48):
Well? Depending on who you speak to, exporters will tell
you that we make in us to feed around forty
to fifty million people. So when that's the number, you
want to make sure that when you're selling your products
around the globe, you get the highest value possible, and
that's what we're seeing. We're seeing a global bump to
meat and that is because there's a currently a global

(01:10):
shortage of red meat, particularly lean meat, lean beef into
the States for their hamburgers, and also a bump and
dairy prices.

Speaker 1 (01:21):
Indeed, the diversification we talk of around things like tariffs
and a moving global landscape, Are we moving? Are we shifting?
Are we as agile as the trade minister would make
us out to be?

Speaker 2 (01:32):
Yes? I think, I mean certainly, over the last couple
of decades, exporters have worked extremely hard to diversify. And
what we found post the President Trump tariffs was that
it was just another impetus again for exporters to say, well,
where can we move our products so we can drive
the highest value. And that's what we're seeing in these

(01:53):
latest numbers, a greater value, a small bump in volume,
but mostly it's getting high prices, which is good.

Speaker 1 (02:02):
This protein story I'm reading about this globalpro Suddenly the
world seems to have woken up to the value of protein.
Is that real and is it on going? Do you
think it is.

Speaker 2 (02:13):
A real trend? But then it's always been part of
a vital part of the human diet, and we're still
seeing that trend where the rising middle class. The moment
they get more money and have a higher income, they
want a better diet. And that's why New zealand exports
of dairy and meat are some important and why over

(02:35):
a period of time we're getting more popular.

Speaker 1 (02:37):
I tell you what I was saying just before the
news my sense of this tourism thing. I've been critical
about tourism because it's not back to where COVID was,
but it seems to have turned in the last couple
of weeks. These numbers coming through tourism seems to have
a fission. Is that fair?

Speaker 2 (02:52):
Certainly it's in a recovery phase. We get around three
and a half million tourists per year, and I think
when you're walking around and Wellington, I'd say most listeners
would think that there's a sense of a great above.
You can feel it. One. We're still not back to
twenty nineteen, but over time, and certainly with New Zealand's currency,

(03:14):
we're a good value place to come visit.

Speaker 1 (03:18):
Yeah, that's a very nice way of saying. Our dollars
in the toilet and it helps, but thank you, Catherine,
appreciate it. Business New Zealand CEO Catherine Richard. For more
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