China passes Australia as biggest source of NZ imports
China steps over Australia to become New Zealand's largest source of imports - Statistics NZ
The importance of trade with China has been greatly emphasised by the Wellington Employers Chamber of Commerce following the release of today’s merchandise trading figures from Statistics New Zealand.
Figures in today’s release demonstrate the level of importance China has to the New Zealand Economy.
In addition to the continued high levels of export growth, figures confirm that in calendar year 2011 China surpassed our Australian neighbour as New Zealand’s largest source of imports.
The strong Australian dollar may be having an impact on these relative trade values, although the emergence of China as an economic ‘superpower’ combined with the New Zealand China Free Trade Agreement are the main contributors to the growth in imports.
Chamber president Richard Stone says exports to China are growing much faster than imports from that country, with exports to China growing 23.1% in the year to January 2012, now exceeding $6 billion.
“The Wellington Employers Chamber of Commerce is emphasising the importance of trade with China and will be working with local businesses to facilitate increased exports and international business,” said Mr Stone.
“Only two years ago China overtook the US as New Zealand’s second largest export market, while Australia remains our number one export market and is still some way ahead.”
NBR Staff
Mon, 27 Feb 2012
Mon, 27 Feb 2012
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
China passes Australia as biggest source of NZ imports
19053