Dec 20, 2017  -  New Zealand’s trade relationship with India has been strong and growing rapidly. As at Year ended June 2017, India was the Seventh largest export destination and 11th largest import source for New Zealand’s total exports and imports of goods and services respectively.

India was the fifth largest destination for New Zealand’s commercial services exports after China, Australia, EU and US, and the Ninth largest import source for its commercial services imports.

Table 1 suggests that, as at year-end June 2017, India was New Zealand’s 11th largest trading partner based on total trade in goods and services, with a two-way total trade valued at $ 2.6 billion, out of which exports were worth $ 1.7 billion.

The Export Sector

New Zealand’s exports to India have been heavily concentrated in a few product categories. The top five goods exported from New Zealand to India as at Year-end June 2017 constituted 78.5% of New Zealand’s total exports to India.

The top commodity item of exports was Logs and Forestry products ($271 million), followed by Confidential items ($154 million), Wood Pulp ($45 million), Wool ($39 million), and Edible Fruit and Nuts ($34 million) (Table 2).

In terms of change in value of exports to India as at year-end March 2016, the largest increases were noted in Confidential Items (up by $70 million from a year ago); followed by Wood Pulp (up by $12 million) and Logs and Sugar & Sugar confectionery (both up by $2 million).

The largest decreases in export values during this period were noted in exports of Machinery Equipment and parts (down by $15 million), followed by Dairy Produce (down by $11 million compared to a year ago) and Metal Scraps including Iron and Steel ingots (down by $ 9 million).

Continue here to read the full article on Indian Newslink  ||  December 17, 2017   |||