New Zealand export more logs and wood in June 2019, despite falling log prices overseas

In June 2019, exports of logs and wood led the rise in New Zealand’s exports, up 16% or $43.5 million (NZ$65 million) from June 2018 to $316.1 million (NZ$472 million) in June 2019. These commodities are the third-largest goods export group, behind milk powder, butter, and cheese (NZ$1.1 billion) and meat and edible offal (NZ$678 million).

The rise in logs and wood was led by untreated logs, up 20% or $36.8 million (NZ$55 million) on a year earlier. The quantity rose 26% and unit values fell 4.6%.

“The average value of untreated log exports fell to $109 (NZ$163) per m3 in June, down from a recent high of $119 (NZ$177) in February,” international statistics manager Geraldine Duoba said.

New Zealand exports of untreated logs to China were worth about $2 billion (NZ$3.0 billion) in the past year, or 80% of the $2.54 billion (NZ$3.8 billion) in total untreated log exports.

Chart: Stats NZ