Exports to China rose $302 million (31 percent) to $1.3 billion in January 2020 compared with January 2019, led by increases in dairy, meat, and logs, Stats NZ said today.
This was the biggest increase in dollar value for any New Zealand export market in January and accounted for most of the lift in total exports. Trade data for January 2020 covers the period just before travel restrictions were imposed after the coronavirus outbreak in China.
“China is New Zealand’s top trading partner and exports have grown strongly over the past three years, continuing into the first month of 2020,” international statistics manager Darren Allan said.
“China is an especially important market for our top three exports, accounting for more than a quarter of dairy, about half of all meat, and almost two-thirds of wood exports in January. We will see any initial economic impact of coronavirus in February trade figures. This may reflect a change in demand because of the extended Chinese New Year holiday and quarantine imposed in some areas in China.”
In the January 2020 month, New Zealand exported 27 percent ($1.3 billion) of its total exports to China alone. On an annual basis, 28 percent of New Zealand’s total exports were to China.Read full article Share on twitter