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New Zealand exports, imports down despite rebound in trade with China

Abstract : New Zealand's exports and imports were both down in February 2021 compared with the previous February, despite rebound in trade with China, the statistics department Stats NZ said on Wednesday.

WELLINGTON, March 24 (Xinhua) — New Zealand’s exports and imports
were both down in February 2021 compared with the previous February,
despite rebound in trade with China, the statistics department Stats NZ
said on Wednesday.

The value of total goods exported fell 416 million NZ dollars (290.7
million U.S. dollars) compared with the same period last year. Exports
were down to all New Zealand’s top trading partners except China, which
saw an increase of 369 million NZ dollars from February 2020, Stats NZ
said.

“Last year, we saw trading restrictions with China and higher than
usual beef exports to the United States in February. In February 2021,
exports to China increased comparatively, whereas exports to the United
States and other countries have decreased,” international trade manager
at Stats NZ Alasdair Allen said in a statement.

Exports of primary products such as meat, dairy, fish, and logs to
China are all up from last February. However, looking at annual totals
to February 2021, meat, fish, and log exports to China are still down
compared with the previous period, due to reduced exports in early 2020
in the wake of the COVID-19 pandemic, Allen said.

“The rise in exports to China shows a return to expected levels,” he said.

Total milk powder, butter, and cheese exports fell 217 million NZ
dollars, or 15 percent, but exports of these goods to China rose 62
million NZ dollars, Stats NZ said.

Sheep meat exports to the European Union in February 2021 were the
lowest since 1999, down 49 million NZ dollars, or 43 percent, while 122
million NZ dollars more was exported to China compared with February
2020, statistics show.

The major rise this month was the export of logs, wood, and wood
articles, up 28 percent, as exports increased to China and Japan, Allen
said.

The value of motor vehicles imported from China was 30 million NZ
dollars, compared with 2.7 million NZ dollars in February 2020. In the
year to February 2021, motor vehicle imports from China increased by 56
million NZ dollars to 111 million NZ dollars, he said.

New Zealand imported fewer turbo-jets and turbo-propellers from the
United States and the European Union, but this fall was partly offset by
a 25-million-NZ dollar increase in imports of laptops, mostly from
China, he added. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: New Zealand exports, imports down despite rebound in trade with China

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