While China was still New Zealand’s top export destination for goods such as dairy, logs and meat, the higher travel services pushed Australia into the top position for total trade, Statistics New Zealand international statistics senior manager Daria Kwon said.
New Zealanders travelling to Australia spent $2.2billion in the year to March, significantly more than the $257million they spent travelling to China, while Australians travelling to New Zealand spent $2.4billion, mainly on personal travel worth $1.9billion.
"Most of this $2.2billion [New Zealand] worth of travel service imports was for personal travel, such as holidays or visiting friends and family," Ms Kwon said.
Business travel by New Zealanders was worth $537million during the year, she said.
New Zealand’s total two-way trade with Australia was worth $24billion. New Zealand had a $1.6billion trade surplus with Australia.
Total exports of goods and services were $70.4billion, while total imports were $67.4billion. Ms Kwon said the largest group of goods exported from New Zealand to Australia precious metals, jewellery, and coins, totalling $625million for the period, mainly from gold mining. The group was the country’s 17th largest export commodity overall to Australia.
East Otago-based Oceana Gold is the country’s largest miner, its Macraes mine, north of Dunedin, and Waihi, in the central North Island, producing more than 98% of all gold mined each year. It is sent to the Perth mint for refining.
Following precious metals, the next largest exports were crude oil from the Taranaki oil fields, various foods and machinery.
Dairy products exported to Australia were New Zealand’s 23rd largest export commodity, Ms Kwon said.
Overall, New Zealand’s trade with the rest of the world was a $3billion surplus for the year to March, she said.
At a glance
Total exports goods and services: $70.4 billion
Total imports goods and services: $67.4billion
Top export destinations: Australia $12.9billion, China $12.6billion
Top import source: European Union $11.7billion, Australia $11.3billion
Top two export commodities: Dairy products $2.8billion, logs $2billion, both to China
— Source: Statistics New Zealand
