Dairy product exports totaled 4 billion NZ dollars, accounting for one-quarter of New Zealand’s exports to China, Stats NZ said.
China has remained New Zealand’s top trading partner since the December 2017 year, followed by Australia. China, Australia, and the European Union (EU) account for nearly half of New Zealand’s total trade with the rest of the world, it said.
Travel services continue to be the most valuable export to Australia. Travelers from Australia spent 2.6 billion NZ dollars in New Zealand in the year ended March 2018, statistics show.
For the year ended March 2018, New Zealand’s two-way trade with China was valued at 26.9 billion NZ dollars, while that with Australia was at 25.9 billion NZ dollars. Two-way trade measures the total amount of goods and services New Zealand imports and exports with the rest of the world.
New Zealand’s two-way trade with the EU was 22.2 billion NZ dollars for the year ended March 2018, Stats NZ said, adding the EU is New Zealand’s third-largest market for trading goods and services.
“In recent history we have continued to import more from the EU than we have exported to them, while our trade balance with China switched from a deficit to a surplus in 2013,” international statistics senior manager Peter Dolan said, adding since 2009, New Zealand has maintained a trade surplus with Australia. (1 NZ dollar equals to 0.7 US dollar)
Source: The Global Times