Stats NZ has reported that China has just over-taken Australia as the biggest export destination in the last quarter.
It is worth recalling that the Greens and NZ First battled against the free trade agreement with China. Thank God they lost.
Labour signed the China-NZ FTA. However their economic policy moves closer and closer to the Greens. I hope they do not abandon their belief in free trade, as they have with free markets.
Here’s the change in export volumes over the last year for our top 10 export destinations:
- China +25%
- USA +8%
- Singapore +4%
- Taiwan +1%
- Hong Kong -1%
- Korea – 2%
- Malaysia -7%
- Japan -8%
- UK -9%
- Australia -9%
The fall in exports to Australia, UK and Japan would be devastating if it were not for the growth to China and the US.