Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Trade deficit increases with EU – Media release

New Zealand’s two-way trade with the European Union (EU) was $22.2 billion for the year ended March 2018, Stats NZ said today. The EU is New Zealand’s third-largest market for trading goods and services.

China remains New Zealand’s top trading partner (maintaining this rank since the December 2017 year), followed by Australia. China, Australia, and the EU account for nearly half of New Zealand’s total trade with the rest of the world.

Two-way trade measures the total amount of goods and services New Zealand imports and exports with the rest of the world. For the year ended March 2018, New Zealand’s two-way trade with China was valued at $26.9 billion, while that with Australia was at $25.9 billion.

EU trade deficit increases while China and Australia remain in surplus

“In recent history we have continued to import more from the EU than we have exported to them, while our trade balance with China switched from a deficit to a surplus in 2013,” international statistics senior manager Peter Dolan said. “Since 2009 we have maintained a trade surplus with Australia.”

In the March 2018 year, almost one-fifth of New Zealand’s imports came from the EU ($13.4 billion). This high value of imports is what drives New Zealand’s trade deficit with the EU. A trade deficit is when imports are greater than exports. Top imports from the EU were vehicles, parts, and accessories, mechanical machinery and equipment, and transportation services.

New Zealand exported $8.8 billion worth of goods and services to the EU for the year ended March 2018. The top goods exports were food based, with meat accounting for almost one-third of total goods exports to the EU, while fruit and wine made up almost a quarter. The largest service exports to the EU included travel (expenditure in New Zealand by tourists from the EU), transportation, and other business services, with travel making up the majority.

Trade surpluses with China and Australia

New Zealand exports to China totalled $15.3 billion in the March 2018 year, led by dairy products. Dairy product exports totalled $4.0 billion, accounting for one-quarter of New Zealand’s exports to China.

Travel services continue to be the most valuable export to Australia. Travellers from Australia spent $2.6 billion in New Zealand in the year ended March 2018.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Joseph Cederwall: Ten reasons to have hope for a better Media in the future

Last week, I wrote about the news crisis in 2018 and why there is hope for journalism despite of (or perhaps because of) this dire situation. This piece will explore what exactly gives us hope at Scoop and will outline some tangible projects and approaches to dealing with this crisis that Scoop is looking to explore in the coming months - years. From tech innovations such as the blockchain, AI and VR, to increased collaboration between newsrooms and new community ownership models, there is plenty of reason for hope.

So, here are ten reasons to have hope for a better media in 2018 and beyond: More>>

 

Gordon Campbell: On The EU Trade Talks With NZ

In the very unlikely event that all will be smooth sailing in negotiating access to Europe for agricultural products from this part of the world, the EU/NZ negotiations could be wrapped up in about two years – which is relatively fast when it comes to these kind of deals. At best then, we won’t see any concrete benefits until half way through the next term of government. More>>

ALSO:

World Refugee Day: What 7 Former Refugee Kids Love About New Zealand

RASNZ asked 7 members of their specialist youth service (along with two staff members who work with refugee background youth) how they felt about New Zealand – and filmed the responses. More>>

ALSO:

Pay Equity Settlement: Affects 5000 Mental Health Support Workers

Health Minister Dr David Clark is pleased to announce an estimated 5,000 mental health and addiction support workers will soon receive the same pay rates as care and support workers. More>>

ALSO:

DHBs: Nurses Plan Strike Action For Next Month

Nurses across the country have confirmed a notice of a 24-hour strike, starting on 5 July. District Health Boards (DHB) were working on contingency plans following a notice to strike by the New Zealand Nurses Organisation. More>>

ALSO:

Oranga Tamariki: Children's Ministry Shifts Away From Putting Kids In Care

Children's Minister Tracey Martin is signalling a shift away from putting children into care, and towards intensive intervention in a child's home. More>>

ALSO:

But No Way To Tell Why: Significant Drop In HIV Diagnoses

A new report shows that for the first time since 2011, the number of annual HIV diagnoses in New Zealand has fallen. But without funding for a repeat of ongoing surveys to monitor changes in behaviour, testing and attitudes, health workers can’t be sure what’s driving the decrease. More>>

ALSO:

On Her Majesty's Public Service: Inquiry Into Spying Claims Extended To All Govt Agencies

In March, State Services Commissioner Peter Hughes announced an inquiry after it was revealed the firm spied on Canterbury earthquake claimants for Southern Response. The inquiry was furthered widened to include the Ministry of Business, Innovation and Employment, who had been spying on Greenpeace staff. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages