New Zealand log exports to China jump 23.7% in January-May

New Zealand increased 23.7% y-o-y log exports to China to 7.4 million m3 in first five months 2019, while average price dropped 7.6% to $95 per m3, according to Stats NZ. Share of China in New Zealand’s log exports surged 5.35 pp to 80.6%.

Log exports from New Zealand to Korea expanded 4.52% to 782.4 thousand m3, average price fell 18.7% to $95 per m3 and export value declined 15.1% to $74.6 million. Log exports to India soared 33.2% to 481.8 thousand m3 with export value jumped 15.3% to $57.2 million.

From January through May, total log exports from New Zealand rocketed 15.5% to 9.1 million m3, export value expanded 10.9% to $1.1 billion.