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New Zealand trade records driven by China

Source:   Time:

WELLINGTON, May 16 (Xinhua) -- China drove a series of New Zealand trade records last year, according to a report from the New Zealand government statistics agency Friday.

New Zealand's two-way trade of goods and services (exports plus imports) for last year was valued at 125 billion NZ dollars (107. 99 billion U.S. dollars), up 3 billion NZ dollars (2.59 billion U. S. dollars) year on year.

The value of goods and services exports was 64.2 billion NZ dollars (55,46 billion U.S. dollars), up 3 percent from 2012, with the rise driven by goods exports.

The largest increase in goods exports came from milk powder, up 1.8 billion NZ dollars (1.55 billion U.S. dollars) to 8.7 billion NZ dollars (7.52 billion U.S. dollars), the highest-ever value of milk powder exported for any year.

Dairy exports reached 13.6 billion NZ dollars (11.76 billion U. S. dollars), including 4.6 billion NZ dollars (3.97 billion U.S. dollars) to China.

"China moved up the ranks to become our top destination for goods exports, with 10 billion NZ dollars (8.64 billion U.S. dollars) worth in 2013. Just under half of this was dairy exports. China accounted for 21 percent of our total exports in 2013, compared with the 19 percent that went to Australia," said the report.

China was also New Zealand's main import partner, sending goods worth 8.3 billion NZ dollars (7.17 billion U.S. dollars) last year, up 547 million NZ dollars (472.81 million U.S. dollars).

Meat and meat product exports rose by 74 million NZ dollars (63. 98 million U.S. dollars), or 1.3 percent, led by increases in sheep meat exports and China had the largest increase.

Exports to Asia Pacific Economic Cooperation (APEC) countries rose by 2.6 billion NZ dollars (2.25 billion U.S. dollars), or 15 percent, led by the rise in exports to China.

New Zealand's annual trade balance for the year ended December 2013 was a surplus of 3.2 billion NZ dollars (2.76 billion U.S. dollars).

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