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Exports to China Continue to Grow
Exports to China Continue to Grow
Export figures out today show the importance of China to New Zealand’s economic recovery according to the Wellington Regional Chamber of Commerce.
“While exports overall fell 7.5%, exports to China increased 43.1% in calendar year 2009,” said Chamber CEO Charles Finny.
“China is already New Zealand’s second largest trade partner (behind Australia) and is poised to overtake the US to become our second largest export market. Exports to Hong Kong and Taiwan also grew.
“The New Zealand China Free Trade Agreement, which has been in place since late 2008, is a contributing factor.
“New Zealand’s economic recovery is likely to be export-led and growth in exports will be what sustains New Zealand’s economic performance in the longer run.
“While the growing trading relationship with China is welcomed, we must not neglect our traditional trading partners including Australia, Japan and the EU as well as the US.
“The Chamber is also keen to see exports increase their contribution to the Wellington regional economy and is part of a collaboration with EMA Central and Export New Zealand to help achieve this,” Mr Finny concluded.
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