Is New Zealand trading with China?
China is New Zealand’s largest trading partner, with exports to the Asian country totaling $20.1 billion, including dairy, meat, and wood products.
Why is China an important trading partner for NZ?
China is also New Zealand’s second largest and fastest growing tourism market, largest source of international students, and a significant source of foreign investment. Highlights of the original free trade agreement include: Tariffs are now eliminated for over 97% of New Zealand goods exports to China.
Are China and Australia trading partners?
Australia is one of the few developed countries that enjoys a trade surplus with China, its largest trading partner.
How much does NZ rely on China?
New Zealand imports from China are $13.3 billion, comprising $12.5 billion in goods and $800 million in services. New Zealand’s major imports from China include: Electronics. Machinery.
Does Australia rely on China?
Australia is China’s sixth largest trading partner; it is China’s fifth biggest supplier of imports and its tenth biggest customer for exports. Twenty-five per cent of Australia’s manufactured imports come from China; 13% of its exports are thermal coal to China. A two-way investment relationship is also developing.
Who owns most of NZ debt?
The biggest contributors to New Zealand’s gross external debt are the registered banks which now account for $117.9 billion, or 48 per cent, of the country’s gross overseas borrowings.
Is NZ too reliant on China?
From a historical view, New Zealand is significantly less reliant on trade with China than it was with the UK until the late-1950s.
What is Australia’s biggest export to China?
Iron ores
In 2020, Australia exported $102B to China. The main products exported from Australia to China were Iron ores and concentrates; including roasted iron pyrites ($63.9B), Petroleum gases and other gaseous hydrocarbons ($9.55B), and Coal; briquettes, ovoids and similar solid fuels manufactured from coal ($6.34B).
Is New Zealand a debt free country?
Government Debt in New Zealand is expected to reach 75000.00 NZD Million by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Government Net Debt is projected to trend around 70000.00 NZD Million in 2022, according to our econometric models.
Who is New Zealand’s biggest trading partner?
China
New Zealand and China are close trading partners. China is New Zealand’s largest trading partner, with two-way trade (exports and imports of goods and services) exceeding NZ$33 billion. New Zealand exports to China.
What does NZ sell to China?
China received 44 percent of New Zealand’s dairy, 90 percent of logs, and 41 percent of meat, Stats NZ said. In June 2021, the value of all New Zealand goods exports rose 17 percent from June 2020 to 6 billion NZ dollars (4.18 billion U.S. dollars).