Catherine Beard: Export NZ Advocacy Director on New Zealand exports reaching an all-time high in May

Total exports reached an all-time high in May despite a continued downward trend in the Chinese market. 

Last month's exports were valued at $7.2 billion for the first time. 

China was the number one market, but beef exports dropped 45% compared to last year. 

Export NZ advocacy director Catherine Beard told Mike Hosking that she believes Chinese demand will come back because they are so large. 

She says the growth won't be as big as it's been for the last five-to-ten years, as their economy is re-balancing. 

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Episode Transcript

Speaker 1 (00:01):
Say, what was a complete bust? This Olympic rehearsal didn't
happen today either. They spent billions on the river. The
rehearsal was set to again. None of it's happening. So
what's going on with the Olympics? Catherine Field for a
shortly meantime, back to the good news we mentioned earlier
on Round our exports May record month for returns. We
cracked the seven billion dollar mark for the first time.
Advocacy director for Export in New Zealand, Katherine Beard, is

(00:22):
with us on this. Catherine, very good morning to you.

Speaker 2 (00:25):
Good morning.

Speaker 1 (00:25):
So a couple of riders. May it's traditionally a high season, right,
generally we do okay in May.

Speaker 2 (00:31):
Yeah, May is a good season. It's the height of
the fruit season and it's strong for meat, dairy and
vegetable exports. So it is usually a good mark.

Speaker 1 (00:39):
But a record is a record, and you can't take
away a record. What's going on with America? Why are
they suddenly gobbling down all our wine and apples and beef.

Speaker 2 (00:48):
Look, they've always been strong for those those exports and
they are getting stronger. So and that's fantastic. You know,
a high quality market lots of people with money and pockets.
So yeah, beef's very strong, wine, sheep, meat, and berry.
They kind of dominate the exports to that market, and
the United States says, leap frog Australia to become the

(01:11):
number two export market.

Speaker 1 (01:12):
And how much of that is US going into America
and saying try key we versus them actually having a
reasonable economy at the moment. They got more money anyway,
and they've discovered us.

Speaker 2 (01:22):
Look, it's probably a bit of both really, because you know,
wine's been doing well in America for a long time,
so as beef. We sell a lot of beef into
hamburger patties. Actually, And I was looking at the stats
and beef is up a phenomenal thirty one percent for
the USA, but on the downside, beef is down forty

(01:43):
five percent China. So they kind of counteract each other.

Speaker 1 (01:46):
That was my next question. It doesn't in totality offset China.
Where are we at with the China story? Are they
on the comeback? Will they be on the comeback? Are
we worried?

Speaker 2 (01:57):
Look, I think they will come back because they so large,
but the growth is not going to be as big
as it's been over the past sort of probably five
to ten years. Their economy is sort of rebalancing. I
did have a look at the overall situation outlook for
primary exports because they do dominate our export stats. And

(02:19):
you've got to keep in mind one month doesn't make
a year, and so for the year to the end
of twenty four, so this June they're forecasting to be
five percent down, so and for twenty twenty five, MPI
is forecasting to be a six percent rebound. So I

(02:40):
think overall the primary air re exports sector, which is
so important to our stats, is kind of a bit
like the rest of the economy. Of the economy and
you know, hanging until twenty twenty five, really.

Speaker 1 (02:54):
Survive till twenty five. Catherine always good to catch up with.
You appreciate it very much, Catherine being the air because
he directed for Export US in nineteen minutes Away from seven.
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