New Zealand - Foreign trade



New Zealand's trade per capita and as a percentage of GNP is among the highest in the world. In 1974/75, more than 70% of export receipts derived from meat, dairy products, and wool; but this figure was down to 56% by 1984/85 and was only 32% in 1994/95, as manufactured goods and forest products have taken an increasing share of the total. Imports consist mainly of manufactured goods, petroleum and petroleum products, and raw materials for industry. Foreign trade more than doubled in value between 1976 and 1981 and again from 1981 to 1985. Between 1992/93 and 1995/96, the value of trade increased by nearly 16%. However, 1996 would prove to be a peak for New Zealand's foreign trade; it has not quite reached that level since.

New Zealand produces a large amount of food, including meat, dairy products, fruits and nuts, and fish. Other important exports include wool, aluminum, wood, and starch. The top 10 exports are as follows:

New Zealand

% OF COUNTRY TOTAL
Meat 12.6
Milk and cream 8.3
Glues 4.2
Aluminum 3.9
Butter 3.8
Cheese and curd 3.7
Fruit and nuts 3.7
Wool 3.1
Fish 3.0
Wood in the rough or squared 2.5

In 2000 New Zealand's imports were distributed among the following categories:

New Zealand

Consumer goods 18.4%
Food 6.9%
Fuels 10.1%
Industrial supplies 24.7%
Machinery 22.9%
Transportation 16.7%
Other 0.3%

Principal trading partners in 2000 (in millions of US dollars) were as follows:

New Zealand

COUNTRY EXPORTS IMPORTS BALANCE
Australia 2,708 3,078 -370
United States 1,930 2,418 -488
Japan 1,789 1,559 230
China (inc. Hong Kong) 769 948 -179
United Kingdom 711 531 180
Korea 596 306 290
Germany 313 591 -278
Malaysia 272 361 -89
Italy 223 277 -54
Singapore 221 232 -11

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