Trade With China Important For New Zealandís Economy

28 February 2012 - Which Way to Pay

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Trade With China Important For New Zealandís Economy

The significance of New Zealand's trade with China has been stressed today by the Wellington Employers Chamber of Commerce.

This comes after Statistics New Zealand released merchandise trading figures demonstrating the importance of China to New Zealandís economy.

The figures not only showed continued high levels of export growth but also showed that in 2011 China surpassed Australia as New Zealandís largest source of imports. The New Zealand China Free Trade Agreement has been one of the main contributors to this growth.

ďThe 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. Only two years ago China overtook the US as New Zealandís second largest export market, while Australia remains our number one export market and is still some way ahead,Ē said Chamber president Richard Stone.

Mr Stone says that exports to China are growing considerably faster than imports from China. Exports to China are growing 23.1% in the year to January 2012, now exceeding $6 billion. Mr Stone concluded that there are many new initiatives in the pipeline that focus on trading with China that should be announced in the near future.

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Related Links:
• WECC
Employers' Chamber of Commerce Central
• Statistics New Zealand
National Statistics Office
• New Zealand - China
Free Trade Agreement
• Economic Calendar
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