Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

New Zealand exports to China rise 45 per cent thanks to soaring demand for milk

WELLINGTON, New Zealand - New Zealand's exports to China rose 45 per cent last year thanks to soaring demand for milk powder, supplanting Australia as New Zealand's top export market for the first time on an annual basis.

Figures released Friday by Statistics New Zealand show that in 2013, China imported $8.1 billion worth of New Zealand goods, up from $5.6 billion the previous year. About 40 per cent of those imports were of milk powder.

Meanwhile, New Zealand's exports to Australia were down 8 per cent at $7.5 billion and exports to the U.S. were down 4 per cent at $3.3 billion. Exports to South Korea and Singapore grew.

The strong demand from China has helped boost New Zealand's economic growth to 3.5 per cent, stronger than in most developed nations.

New Zealand's central bank said this week it intends to begin raising interest rates soon in order to keep inflation and a heated housing market in check.

New Zealand posted a slim trade deficit for the year after exporting a total $39.4 billion worth of goods and importing $39.5 billion. New Zealand imported more goods from China than any other country.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates