New Zealand’s 1Q exports to Hong Kong up 169%
New Zealand’s seafood exports grew both in terms of value and volume in the first quarter of 2012, according to the New Zealand Seafood Industry Council (SeaFIC).
In the first edition of its quarterly economic review, published this month, SeaFIC reported that New Zealand’s seafood exports totaled 80,269 metric tons worth NZD 388 million in the first quarter of 2012, up 3.2 percent and 8.6 percent, respectively, from the corresponding period in 2011.
SeaFIC called the results “very pleasing” given that the country’s meat, wood, oil and fruit exports were down in the same period. It attributed the increase in the country’s seafood exports partly to exporters diversifying away from the beleaguered European market and toward other destinations, including China, which became New Zealand’s largest seafood market for the first time last year.
China, along with Hong Kong, represented more than 27 percent of New Zealand’s seafood exports in the first quarter of 2012, reaching NZD 106 million. In terms of value, the country’s seafood exports to China were up 11 percent to NZD 63 million, while its seafood exports to Hong Kong were up a whopping 169 percent to NZD 43 million.
In contrast, New Zealand’s seafood exports to Spain and France fell 19 percent and 30 percent, respectively, in the first quarter of 2012.