WELLINGTON, June 28 (Xinhua) -- Operating profit from the agriculture, forestry, and fishing industries increased 22 percent to 5.6 billion New Zealand dollars (3.76 billion U.S. dollars) in the 2018 financial year, New Zealand statistics department Stats NZ said on Friday.
Food product manufacturing, grocery, liquor, and tobacco product wholesaling, which are related to the agriculture, forestry, and fishing industries, also had increased profits, Stats NZ said.
Growth in the primary industries reflects favorable seasonal factors and export prices over this period, as seen by increased exports of beef, lamb, dairy products, logs and kiwifruit, it said.
Led by price increases for dairy products, sales in the dairy industry increased 1.2 billion New Zealand dollars (804 million U.S. dollars) in 2018, Stats NZ said.
"After the downturn in 2016, operating profit for the dairy industry has continued to recover, but not back to the level seen in 2014," national accounts senior manager Gary Dunnet said in a statement.
Forestry and logging had a significant operating profit increase of 40 percent in 2018. This reflects the increased exports, measured by both volumes and prices, Dunnet said.
