New Zealand – China trade update
Below are some statistics showing the changes in trade between New Zealand and China.
On 7th April 2008 New Zealand became the first OECD country to sign a free trade deal with China. However this is not the only first with regard to the relationship between the two countries. New Zealand was the first to negotiate a WTO accession agreement with China as well as the first to recognize China as a “market economy”. With this in mind, the Chinese government have acknowledged the support of New Zealand by granting them the first bi-lateral agreement with a western nation. The table below shows how the value of trade has increased as well as the ranking of particular goods and services.
Main goods exports to China:
- milk powder, butter, and cheese ($2,419 million)
- logs, wood, and wood articles ($1,551million)
- meat and edible offal ($1,211 million)
Main services exports to China:
- personal travel ($1,528 million)
- education travel ($673 million)
- transportation services ($161 million)
Source: Statistics New Zealand