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Global New Zealand – International trade, investment, and travel profile: Year ended December 2010
Key points

New Zealand’s merchandise exports were valued at $43.5 billion in the year ended December 2010, up 9.7 percent from $39.7 billion in the December 2009 year.

The largest increase in export value was in dairy, up $2.3 billion (28 percent) for the year. The second-largest increase was in wood, up $630 million (27 percent). The largest offsetting decrease was from starch (which includes casein), down $160 million (15 percent).

The total value of New Zealand’s imports for the year ended December 2010 was $42.4 billion, up 5.3 percent from $40.2 billion in the December 2009 year.

Vehicles lead the increase in imports, with a $1.0 billion (32 percent) rise for the year. The second-largest increase was in mineral fuels, which was up $631 million (11 percent). The most significant offsetting decrease for the year was in aircraft, which was down $731 million (48 percent).

Exports

  • Australia continued to be New Zealand’s principal export market, receiving 23 percent or $10.0 billion of New Zealand’s exports for the year ended December 2010. China remains New Zealand’s second-largest export market, receiving 11 percent of total exports, or $4.8 billion. The United States is the third-largest export market, receiving 8.6 percent of total exports, or $3.8 billion.
  • Exports to APEC economies accounted for 71 percent of New Zealand’s total exports and were worth $31.0 billion in the year ending December 2010. The European Union accounted for 11 percent ($5.0 billion) of total exports.
  • The Harmonised System (HS) chapter heading ‘dairy’ continued to be New Zealand’s largest export earner in the December 2010 year, accounting for 24 percent of total merchandise exports and valued at $10.4 billion. Meat and wood were our two next-largest export products, accounting for 12 and 6.8 percent of total exports, respectively.
  • Applying the level of processing (LOP) classification, in the year ending December 2010, 69 percent of all exports were primary products and 26 percent were manufactured goods. Of the primary products, 53 percent were processed. Of the manufactured goods, 64 percent were elaborately transformed. New Zealand exported 38 percent of all manufactured goods and 16 percent of all primary products to Australia. Ninety-one percent of all exports to China were primary products.

Imports

  • Australia remained New Zealand’s largest source of merchandise imports in the year ended December 2010, accounting for 18 percent of total imports. Total imports from Australia were valued at $7.7 billion, a 4.1 percent increase from the December 2009 year. China was New Zealand’s second-largest source of imports, contributing 16 percent of total imports. Other major sources of imports for New Zealand were the United States and Japan, which respectively accounted for 10 and 7.3 percent of total imports.
  • Imports from APEC economies were valued at $31.6 billion and accounted for 75 percent of total imports in the year ended December 2010. Imports from the European Union were valued at $6.2 billion for the December 2010 year, and contributed 15 percent of total imports.
  • New Zealand’s highest-valued imported HS chapter heading in the year ended December 2010 was mineral fuels, worth $6.5 billion and accounting for 15 percent of total imports. Other significant imports included machinery ($5.2 billion), vehicles ($4.3 billion), and electrical machinery ($3.6 billion).
  • Under the LOP classification, in the year ending December 2010, 28 percent of all imports were primary products and 71 percent were manufactured goods. Of the primary products, 52 percent were processed. Of the manufactured goods, 88 percent were elaborately transformed. Fifty-six percent of all manufactured goods imported were mechanical and electrical machinery and equipment.

Services  

In the year ended December 2010, New Zealand’s service exports were worth $12.1 billion, down $457 million from the December 2009 year. This is the lowest value of services exported since the year ended December 2003. New Zealand imported services to the value of $12.7 billion in the year ended December 2010, up $149 million from the December 2009 year.

Overseas visitors  

Permanent, long-term, and short-term overseas visitor arrivals numbered 2.6 million in the year ended December 2010, an increase of 63,000 visitors from the December 2009 year. The largest sources of visitors to New Zealand in the year ended December 2010 were Australia (44 percent of all visitors), the United Kingdom (9.5 percent), and the United States (7.4 percent). Visitors from Australia increased the most, up 38,000 (3.5 percent). The next-largest increase was for visitors from China, up 21,000 (19 percent).

General issues

The commodity tables show the principal markets for New Zealand’s exports (and some imports) of several product groups, including agriculture, non-agriculture, dairy, meat, fruit and vegetables, forestry, and machinery. Economic groupings, and the geographic country aggregations that make up the geographic regions used in the text, are defined in the appendixes at the end of this publication. Other definitions, for example the services definitions, are those Statistics New Zealand uses and are based on standard International Monetary Fund criteria. A summary of these definitions also appears at the end of this publication.

Re-exports

Re-exports record goods brought into New Zealand and exported without a ‘substantial transformation’. The yardstick for measuring ‘substantial transformation’ is ‘50 percent value added’ and above that level, the goods are classified as domestic exports. Trans-shipment goods are not included. Goods that are re-exported will have previously figured in some form in the import statistics.

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