NZIBF has been proud to co-sponsor this new report prepared by John Baillingall of Sense Partners for the NZ China Council. The report seeks to contribute facts and figures to the recurrent debate around whether New Zealand is too economically dependent on China, and if so, what might be done about it.
China has accounted for over 60% of New Zealand’s goods export growth over the past decade, reflecting China’s strong income growth, changing consumer preferences for primary products, reduced trade barriers arising from the bilateral Free Trade Agreement, and trust and institutional linkages built up over time.
The report draws on a range of data to examine the degree of trade concentration on China. New Zealand’s position is not out of step with other APEC economies. While the Government can assist with opening up new markets, this is neither quick nor easy. The report concludes that exporters themselves are best placed to evaluate the risks and opportunities in China and other markets.