Merchandise exports rose significantly in September 2024, increasing by $246 million, or 5.2 per cent. Total exports reached $5.0 billion, compared to the same month last year.
Fruit exports rise
Fruit sales topped the list of exports, rising by $233 million, reflecting a 105 per cent increase. sales were valued at $454 million. Kiwi sales were a major contributor to the increase, increasing by $212 million, or 117 per cent, to $394 million. Apple sales also rose by $7.3 million, or 23 per cent, to $39 million.
Dairy revenues rise
Alongside fruit, milk powder, butter and cheese also saw significant increases. Revenues increased by $147 million, or 15.2%, to $1.1 billion. This increase reflects the continued demand for dairy products.
Key Conclusions
It can be concluded that there is a positive trend in foreign trade of goods. The increase in fruit exports is a sign of the success of marketing strategies and expansion into foreign markets. It is necessary to continue to enhance agricultural production and support food industries to achieve better results in the future.
In general, the trade sector shows remarkable activity in September 2024, reflecting effective export efforts. These positive trends are expected to continue, contributing to enhancing economic growth.
The current situation requires more focus on developing vital sectors. Strategies should be developed to improve the quality of products and increase their competitiveness in global markets. Innovations in packaging and marketing can also contribute to boosting the country’s exports and achieving further successes. Overall, this increase in exports should be used to build a stronger economic base and ensure sustainable growth in the future.
Top monthly export movements by country: September 2024
Export activity in September 2024, compared to September 2023, saw notable changes among major export partners.
China
Total exports from China decreased by $109 million, or 8.8 percent. Despite this decrease, fruit prices increased by $52 million. In contrast, the largest declines were in meat and offal imports, which decreased by $67 million. Casein and caseinate imports also decreased by $22 million, while fish and crustacean imports also decreased by $17 million.
Australia
Australia recorded a slight decrease in total exports of $7 million, or 0.9 percent. However, exports of precious metals and jewelry increased by $23 million. Exports of milk preparations, cereals and flour increased by $13 million. Imports of petroleum and products, however, saw a significant decrease, falling by $72 million, followed by a decrease in milk powder and butter by $14 million.
United States
The United States recorded a rise in total exports of $11 million, or 1.9 percent. The largest increases were in fruit imports, up by $26 million. Milk powder and butter exports also increased by $21 million. However, there were decreases in animal fats and oils by $33 million.
European Union
The European Union recorded a significant increase in total exports, increasing by $183 million, or 67 percent. The largest increase was in fruit imports, up by $109 million. Machinery and equipment exports increased by $46 million. Aluminium exports decreased by $15 million.
Japan
In Japan, total exports decreased by $22 million, or 8.2 percent. There were no significant increases or decreases exceeding $10 million. The data show that changes in export movements reflect challenges and opportunities in global markets. The current situation requires effective strategies to boost exports and improve competitiveness. Countries should focus on enhancing product quality and increasing innovation to support their export growth.
Decrease in imports of cars and parts and imports
Imports of goods in September 2024 decreased by $67 million, or 0.9 percent. Total imports amounted to $7.1 billion, compared to September 2023.
Decline in imports of vehicles and parts
Sales of vehicles, parts and accessories led the decline, falling by $439 million, or 41 percent, to $633 million. Passenger car sales were the most notable, falling by $269 million, or 41 percent, to $393 million. The biggest decline was in sales of electric vehicles, which fell by $115 million, or 84 percent, to $21 million.
Major monthly import movements by country
China
China’s imports decreased by $158 million, or 9.8 percent. There were no significant increases in amounts exceeding $10 million. The largest declines were in imports of vehicles and parts, down by $96 million. Imports of petroleum and products also fell by $52 million.
European Union
The European Union saw total imports rise by $12 million, or 1.1 percent. The biggest increase was in exports of aircraft and parts, up by $19 million. However, imports of vehicles and parts fell by $75 million.
Australia
Australia’s imports rose by $6.8 million, or 0.9 percent. The biggest increases were in precious metals and jewellery, up by $46 million. Grain imports fell by $30 million, reflecting a mixed market.
United States
The United States saw a significant increase in total imports, up by $330 million, or 51 percent. The biggest increase was in exports of aircraft and parts, up by $320 million. However, imports of vehicles and parts fell by $18 million.
South Korea
South Korea’s imports fell by $45 million, or 7.3 percent. The largest declines were in vehicles and parts, which fell by $26 million.
