Strong export growth in face of global headwinds

Recent trade statistics demonstrate the success and resilience of New Zealand’s export sector, Trade and Export Growth Minister David Parker said today.

“Notwithstanding volatility in some offshore markets, 2018 saw strong gains for our exporters bolstered by our trade agreements, which help grow and maintain access for our products and services.”

“New Zealand’s goods and services exports increased 10 per cent in dollar terms to the year ending September 2018. Goods exports grew 7 per cent in the 2018 calendar year.”

Analysis by the Ministry of Foreign Affairs and Trade shows goods exports to existing trade agreement partners increased by 9.3 per cent in the year ending December 2018.

“Adding the new trade agreement partners from CPTPP – Japan, Canada, Mexico and, when it ratifies, Peru, New Zealand’s annual goods exports to trade agreement partners reached almost $38 billion at the end of 2018, up from $32 billion in 2017.”

Exports to China continued to grow at a rapid pace, with goods exports surging 20 per cent for the year ending September. Total goods and services exports to China increased 18 per cent for the year ending September. Two way trade reached $28.8 billion.

“Our exporter success reaches beyond China. New Zealand goods and services exports to the ASEAN six markets (Indonesia, Malaysia, The Philippines, Singapore, Thailand and Viet Nam) grew by 13 per cent in the year ending September 2018.

“With CPTPP now in force, I expect exports to be supported further through the removal of tariffs over time on almost all New Zealand exports to CPTPP countries.

“This includes eliminating tariffs on the more than half a billion dollars’ worth of kiwifruit we exported to Japan in 2018 and eliminating tariffs on our wine exports to Canada,” David Parker said.

“I have previously highlighted the success of the Government’s international business development agency, New Zealand Trade and Enterprise, in boosting our export success.”

Of the 12,000 exporters in NZ, 5500 are customers of NZTE including a high-focus portfolio of 700 companies. Those 700 companies grew their international revenue by about $3.5 billion, rising 9.2 per cent more than the benchmark group of exporters.

This supports our efforts to move our economy from volume to value, which will lift our incomes and living standards.

/Public Release. View in full here.