New Zealand’s wool exports fall
The monthly volume of New Zealand wool exported in March was significantly lower than in March 2007. However, it was partially caused by a reduced number of working days in March because of the earlier Easter break this year.
The decline in New Zealand wool exports during the first nine months of the 2007/08 season has been fairly evenly spread across the top importing countries. Of the top five wool buying countries, only China recorded a year-on-year increase. This rise has partly been assisted by the weakening New Zealand dollar compared with the US dollar in the second half of the season. Exports to the remaining four largest importing countries – the UK, India, Italy and Belgium/Luxemburg – all fell.
For the 12-month period ended March 2008, cumulative wool exports fell across all categories with tops seeing the most significant decline.
