A Glance At NZ Trade After The Coronavirus Outbreak – 25 March Update
Daily goods trade data between 1 February and 18 March gives an updated glance at New Zealand’s trade with the world since the COVID-19 outbreak, Stats NZ said today.
For the week ended 18 March 2020 with the
equivalent week in 2019:
- Total imports from all countries were down 11 percent ($116 million), from $1.1 billion to $1.0 billion.
- Total exports to all countries were up 3.7 percent ($47 million), from $1.28 billion to $1.32 billion.
- Imports from China were down 15 percent ($28 million), from $191 million to $163 million.
- Exports to China were down 14 percent ($50 million), from $346 million to $296 million.
The high-level graphs released today show total export and import values, and export and import values to and from China.
In addition to the series published last week, the CSV file now includes:
- air and sea freight values for imports and exports
- total exports of dairy, meat, forestry. and seafood
- meat exports values and weights to the United States
- export values to the European Union (28 countries).
The data is provisional and should be regarded as an early, indicative estimate of intentions to trade only, subject to revision.
The data compares trade from 1 February and 18 March 2020 against previous years. This allows for an estimate to be made of what may have happened to trade, if they had followed typical patterns.
Stats NZ urges caution in making decisions based on this provisional data.