Dec 4, 2017 -New Zealand’s two-way trade with APEC reached $102 billion for the year ended September 2017, Stats NZ said today. The Asia-Pacific Economic Cooperation (APEC) forum brings together 21 Pacific Rim member economies, including Australia, China, and the United States – three of our main trading partners.
"Asia-Pacific is the fastest-growing economic region in the world," international statistics manager Tehseen Islam said. "Over the last decade, New Zealand's two-way trade with APEC has grown $31 billion, and a $2.6 billion deficit is now a $4 billion surplus."
APEC is the Asia-Pacific's main economic forum where a number of trade agreements are reached. Talks are currently underway at APEC on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Eleven of the 21 APEC countries are in the trade talks.
In the September 2017 year, New Zealand had a $4 billion surplus with APEC – we exported $53 billion worth of goods and services to APEC, and imported $49 billion. Most of our surplus with APEC countries is due to our $3 billion surplus with China. This is mainly due to New Zealand's exports of dairy products to China, and spending by visitors from China in New Zealand.
Dairy products our largest export to APEC nations
Dairy products are our largest export to the combined APEC nations. New Zealand exported $9 billion worth of milk powder, butter, and cheese to these countries in the September 2017 year, $2 billion short of the $11 billion high exported in the September 2014 year.
China is New Zealand’s largest export market for milk powder, butter, and cheese, totalling 28 percent – nearly $4 billion in the September 2017 year. Our next-largest export market for these products is Algeria, which makes up 5 percent. APEC countries (China, Australia, and Malaysia) account for three of our top five dairy export markets.
Vehicles lead the way in imports
New Zealand’s main imports from APEC are vehicles, machinery, and equipment. New Zealand imports a large amount of cars and trucks from Japan, Thailand, the US, and South Korea, all of which are APEC nations.
New Zealand imported $2 billion worth of electrical machinery and equipment from China in the September 2017 year, and nearly $4 billion worth of mechanical machinery and equipment from China, the US, and Japan combined.
Travel spending contributes to trade surplus
Travel also contributes significantly to our trade surplus with the APEC nations. Visitors and students from APEC nations provided $9 billion to the New Zealand economy in the September 2017 year through exports of travel services, mainly by visitors from Australia, China, and the US.
Spending by New Zealanders visiting APEC nations (imports of travel services) totalled $4 billion in the September 2017 year, with personal travel accounting for $3 billion of this. The majority of New Zealanders’ personal travel spending was in Australia, followed by the US. Visitors from the US added $1 billion to the New Zealand economy in the September 2017 year, while New Zealand visitors added $531 million to the US economy.
For more information about these statistics:
Visit Goods and services trade by country: Year ended September 2017See CSV files for download
| A StatsNZ release || December 4, 2017 |||
Without fear or favour Peter Isaac tip toes through political correctness and our Five Questions
Dec 24, 2017 - Where do you see the mainstream media now?In a rather stronger position than it appears to see itself. There are the revenue shifts in which their giveaway versions are flourishing especially in property advertising. Similarly the broadcasters have a solid localised radio backbone via carrying advertising for patent medicines, directed at those of mature years, their audience base.
United States new diafiltration ingredient ignited Canada’s secessionist milk powder keg
Canada’s determination to protect its French-speaking dairy industry is emerging as the reason for its last minute defection from the Trans Pacific Partnership trade treaty. The cause of this pre-signing ceremony pull-out is increasingly being seen as the other North American defector.
This is Canada’s NAFTA partner the United States which is determined to push a new-technology milk derivative across the border into Canada.
Dec 4, 2017 - Scott Technology is confident it can survive the growing prospect of a US-led trade war with manufacturing around the world spreading its risk, says chair Stuart McLauchlan. The Dunedin-based maker of robotic and automation systems derives about 94 percent of its revenue from exports and has been a happy buyer of businesses to expand its operations over the years. McLauchlan reminded shareholders at today's annual meeting in Dunedin that he was hopeful US President Donald Trump's new administration would continue the work of its predecessors in liberalising trade flows.
"Unfortunately, we have now witnessed a withdrawal by the United States from this leadership position allowing China to now take this lead," McLauchlan said today. "Overhanging this are the dark clouds of a trade war initiated by the United States threatening to invoke tariffs against their trading partners."
Still, he was optimistic Scott's geographic diversity with manufacturing operations in North America, China and Europe would be enough to counter a trade war.
New Zealand's position as an open economy that trades with the world has been cited by policymakers as leaving the nation vulnerable to trade protectionism. At the recent East Asia Leaders Summit, US president Trump forcefully expressed a preference for bilateral deals as part of his 'America First' stance, having already withdrawn from the proposed Trans-Pacific Partnership and taking a hard-line in the North American Free Trade Agreement renegotiations currently underway.
Despite the cooling appetite for global trade, Scott's McLauchlan told shareholders the company's automation systems were poised to capture a growing appetite among firms to replace their ageing workforces with robotic and digital processes, and it had a "very full" order book across all sectors its services.
"The enquiries being received by Scott for our automation solutions is at an all-time high," he said.
Managing director Chris Hopkins told the AGM the company is "over-capitalised" and needs to grow, which will be through organic expansion and acquisitions.
Scott has about $26 million of surplus cash from its investment by cornerstone shareholder JBS, and Hopkins said his team has looked at more than 30 potential acquisitions but doesn't expect to complete any in the near term.
The shares were unchanged to $3.70 and have climbed 72 percent so far this year.
| Source: Sharechat | November 30, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242