Exports to Major Trading Partners Up

Exports to Major Trading Partners Up

The value of merchandise exports to New Zealand's current top four trading partners was 17.2 percent higher in November 2004 than in November 2003, according to Statistics New Zealand. The current top four trading partners are Australia, United States of America, Japan and the People's Republic of China. These four countries account for more than half of the annual value of New Zealand's exports.

The main commodities contributing to the increased value of exports to these countries in November 2004 were whiteware, wine and steel to Australia; steel and aluminium to the United States of America; crude oil, fruit and mechanical wood pulp to Japan; and live cattle to the People's Republic of China. For the year ending November 2004, exports to the top four trading partners were 8.1 percent higher than for the year ending November 2003.

The updated value of merchandise exports for November 2004 is $2,621 million, which is 9.6 percent higher than for November 2003. Rises were recorded across a broad range of commodities. The commodities contributing most to the higher value were mechanical machinery and equipment; milk powder, butter and cheese; steel; and unwrought aluminium.

The trend for the value of merchandise exports has eased, following a period of monthly rises dating back to September 2003. In this period the trend value has risen 11.0 percent, despite the value of the New Zealand dollar appreciating 9.0 percent. Exchange rate appreciation generally has a downward influence on export values.

Brian Pink

Government Statistician

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