Who does New Zealand mainly trade with?
New Zealand Exports Drop 8.5% YoY
The main export partners are China (18 percent of total exports), Australia (17 percent), the US (12 percent), Japan (6 percent), the UK and South Korea (3 percent each).
Who is New Zealand’s top trading partner?
China is by far New Zealand’s biggest trading partner, with second-ranked Australia at 13% of total exports, while the U.S. takes 11% and Japan 5.5%.
Who does NZ export to the most?
The most common destination for the exports of New Zealand are China ($11.1B), Australia ($5.7B), United States ($3.78B), Japan ($2.38B), and South Korea ($1.15B).
What are New Zealand’s main imports and exports?
Economy of New Zealand
|Exports||$62.4 billion (FY 2020)|
|Export goods||Dairy products, meat, logs and wood products, fruit, machinery and equipment, wine, fish and seafood|
|Main export partners||China 23.0% Australia 16.4% United States 11.4% European Union 10.6% Japan 5.3% (FY 2019/20)|
|Imports||$59.6 billion (FY 2020)|
What is New Zealand’s biggest industry?
Agriculture is New Zealand’s biggest industry. Overall, it generates 70% of NZ’s merchandise export earnings and 12% gross domestic product. New Zealand is the world’s largest exporter for dairy and sheep meat, which is evident as you drive past never-ending sheep and cow fields.
Who does Australia trade with the most?
Australia top 5 Export and Import partners
|Market||Trade (US$ Mil)||Partner share(%)|
What are New Zealands top 5 exports?
New Zealand’s Top 10 Exports
- Meat: $5.6 billion (14.6%) Wood: $2.9 billion (7.6%) …
- Alcoholic beverages: $1.4 billion (3.8%)
- Machines, engines, pumps: $1.3 billion (3.5%) Modified starches, enzymes: $1.1 billion (3%) …
- Other food preparations: $876.8 million (2.3%) Aluminum: $835.3 million (2.2%)
Is NZ still trading with China?
China continues to be New Zealand’s top trading partner, with two-way goods and services trade totalling NZ$31.5 billion in 2020 (down 5.6% from 2019). … The overall goods and services trade balance between China and New Zealand in 2020 was +NZ$5.7 billion.
What is NZ biggest export industry?
Tourism was New Zealand’s biggest export industry, contributing 20.1% of total exports. Tourism generated a direct annual contribution to GDP of $16.4 billion, or 5.5%, and a further indirect contribution of $11.3 billion, another 3.8% of New Zealand’s total GDP.
How many countries does New Zealand trade with?
New Zealand’s top three trade partners – China, Australia, and the European Union – accounted for approximately half of the total trade with the rest of the world. Japan is New Zealand’s fifth-largest trade partner and accounted for 5.3 percent of the total trade with the rest of the world.
What does NZ import the most?
- Machinery including computers: US$5.3 billion (14.3% of total imports)
- Vehicles: $4.2 billion (11.3%)
- Electrical machinery, equipment: $3.5 billion (9.4%)
- Mineral fuels including oil: $3.1 billion (8.4%)
- Plastics, plastic articles: $1.5 billion (3.9%)
- Optical, technical, medical apparatus: $1.3 billion (3.6%)
What is the capital of New Zealand?
New Zealand has had three capital cities – first Okiato (Old Russell) in the Bay of Islands from 1840, then a year later, Auckland, and finally Wellington. Today marks 155 years since a session of parliament officially met in Wellington for the first time on 26 July 1865.
Who trades with Palau?
Major export partners are Japan, the US and Mexico. Palau’s main imports are oil, fish, machinery and equipment. Japan, the US, Singapore and Republic of Korea are main import partners. It is a member of the Pacific Island Countries Trade Agreement (PICTA).
What is New Zealand known for exporting?
The foundation of New Zealand’s economy is exporting agricultural commodities such as dairy products, meat, forest products, fruit and vegetables, and wine. Dairy is the lead export commodity. Tourism is New Zealand’s largest export industry in terms of foreign exchange earnings.