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New Zealand Economic and Financial Overview 2015

Geographic Distribution of External Trade

New Zealand's trading relationships are becoming increasingly based around Pacific Rim countries. New Zealand's three largest export markets - China, Australia and the United States - accounted for 48.2% of New Zealand's merchandise exports and 40.1% of merchandise imports in the year ended 30 September 2014. Japan remains an important trading partner, both as a destination for exports and a source of imports. South Korea has become New Zealand's fifth largest export market, accounting for 3.3% of total exports in the year to September 2014.

Trading partner growth is expected to pick up slightly in 2015 to 3.9%, and to remain at that level over the next couple of years, as the US economic recovery becomes entrenched and growth picks up in the emerging Asian economies excluding China. However, growth in China is expected to continue to decline, and growth in Japan and the euro area are expected to remain weak, weighing on the external demand for New Zealand exporters.

Table 14 - Geographic Distribution of Exports (1)
Year ended 30 September
(dollar amount in millions)
2010 2011 2012 2013 2014 2014
% of Total
China, People's Republic of 4,318 5,795 6,437 8,267 11,336 22.2%
Australia 9,887 10,558 10,180 9,301 8,872 17.4%
United States of America 3,711 3,906 4,147 4,111 4,364 8.6%
Japan 3,249 3,333 3,357 2,799 2,925 5.7%
Korea, Republic of 1,355 1,634 1,568 1,603 1,681 3.3%
United Kingdom 1,522 1,541 1,407 1,402 1,550 3.0%
Taiwan 823 903 844 846 1,011 2.0%
Singapore 1,071 798 859 999 1,005 2.0%
Indonesia 916 868 823 858 970 1.9%
Malaysia 740 848 914 883 946 1.9%
United Arab Emirates 417 496 649 579 896 1.8%
Thailand 591 728 683 643 812 1.6%
Philippines 697 738 727 695 790 1.5%
Netherlands 474 613 579 606 737 1.4%
Saudi Arabia 533 711 665 584 729 1.4%
Hong Kong (SAR) 851 770 879 800 728 1.4%
Germany 669 753 735 715 728 1.4%
India 755 965 830 744 574 1.1%
Canada 468 577 579 545 547 1.1%
Venezuela 380 434 651 265 230 0.4%
Other Countries 8,358 9,827 9,237 8,762 9,593 18.8%
Total 41,785 46,798 46,748 46,005 51,025 100.0%

(1) Free on Board value. Including re-exports

Source: Statistics New Zealand

Table 15 - Geographic Distribution of Imports (1)
Year ended 30 September
(dollar amount in millions)
2010 2011 2012 2013 2014 2014
% of Total
China, People's Republic of 6,073 6,910 7,327 7,665 7,982 16.7%
Australia 7,348 7,098 6,888 6,338 5,906 12.3%
United States of America 3,723 4,858 4,426 4,132 5,306 11.1%
Japan 2,843 2,663 2,928 2,789 3,058 6.4%
Germany 1,619 1,816 1,984 2,042 2,323 4.8%
Korea, Republic of 1,232 1,401 1,686 1,706 2,149 4.5%
Singapore 1,396 2,099 2,175 1,779 2,145 4.5%
Malaysia 1,386 1,456 1,503 2,085 2,138 4.5%
Thailand 1,240 1,328 1,320 1,595 1,586 3.3%
United Kingdom 895 1,143 1,154 1,165 1,253 2.6%
France 575 640 1,060 1,079 1,165 2.4%
Italy 652 782 718 811 853 1.8%
Saudi Arabia 243 599 1,060 1,070 812 1.7%
Indonesia 518 570 699 772 792 1.7%
Taiwan 681 657 747 679 760 1.6%
Brunei Darussalam 513 418 1,155 637 572 1.2%
Canada 423 575 553 533 496 1.0%
India 363 352 399 397 449 0.9%
Qatar 822 805 720 577 316 0.7%
Oman 53 365 947 570 27 0.1%
Other Countries 5,956 7,180 5,795 6,741 7,807 16.3%
Total 38,554 43,715 45,246 45,162 47,895 100.0%

(1) Value for Duty.

Source: Statistics New Zealand

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