Daily goods trade data between 1 February and 22 April gives an updated glance at New Zealand's trade with the world since the COVID-19 outbreak, Stats NZ said today.
The timing of Easter holidays in 2020 (weekend of 11/12 April) was earlier than in 2019 (20/22 April). This affects year-on-year comparisons of weekly trade data, so we compare trade data for the fortnight ended 22 April 2020 with the equivalent fortnight in 2019:
- total exports to all countries were down 14 percent ($363 million), from $2.66 billion to $2.30 billion
- total imports from all countries were down 21 percent ($497 million), from $2.33 billion to $1.83 billion
- exports to China were down 13 percent ($89 million), from $676 million to $587 million
- imports from China were up 11 percent ($44 million), from $417 million to $461 million.
The high-level graphs released today show total export and import values, and export and import values to and from China.
The data is provisional and should be regarded as an early, indicative estimate of intentions to trade only, subject to revision.
The data compares trade from 1 February to 22 April 2020 against previous years. This allows for an estimate to be made of what may have happened to trade, if they had followed typical patterns.
Stats NZ urges caution in making decisions based on this provisional data.
