Lockdowns throughout the world may have slowed trade but, as businesses attempt to establish a ‘new normal’, money continues to keep the wheels in spin, as this report from Stats NZ reveals.
For the week ended 18 March 2020 with the equivalent week in 2019:
Total imports from all countries were down 11 percent ($116 million), from $1.1 billion to $1.0 billion.
Total exports to all countries were up 3.7 percent ($47 million), from $1.28 billion to $1.32 billion.
Imports from China were down 15 percent ($28 million), from $191 million to $163 million.
Exports to China were down 14 percent ($50 million), from $346 million to $296 million.
High-level graphs show total export and import values, and export and import values to and from China.
The data compares trade from 1 February and 18 March 2020 against previous years. This allows for an estimate to be made of what may have happened to trade, if they had followed typical patterns.
However, Stats NZ urges caution in making decisions based on this provisional data. See Provisional indications – effects of coronavirus outbreak on New Zealand trade with China.
To stay up-to-date with reports from StatsNZ, visit www.stats.govt.nz/reports.