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New Zealand Economic and Financial Overview 2009

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External Trade (continued)

Composition of Merchandise Exports and Imports

The agricultural sector is highly efficient and has steadily increased the value-added component in agricultural exports. Agricultural exports are an important source of export income for the New Zealand economy. Meat and dairy products are the most important agricultural exports - together they accounted for around 34% of total merchandise export values in the year ended 30 September 2008.

The manufacturing sector has been a major source of export growth and diversification over the past two decades. The Closer Economic Relations agreement with Australia has contributed to a successful expansion by manufacturers into that market. A focus on design, reliability and cost is also seeing manufacturers make inroads into other markets, particularly Asia and the United States. Despite New Zealand's geographical position, it now exports a range of manufactured goods, including plastic goods, carpets and textiles, wines and high-tech computer equipment to countries throughout the world.

As New Zealand has become more internationally oriented, imports have played a larger role in the economy. In real terms, merchandise imports have more than tripled since 1990.

The following tables show the dollar amounts and percentage distribution of New Zealand's major exports and imports.

The following tables show the dollar amounts and percentage distribution of New Zealand's major exports and imports.

Composition of Principal Merchandise Exports
  Year ended 30 September
(dollar amount in millions)
  2004 2005 2006 2007 2008 2008
% of Total
Dairy Produce etc 4,973 5,061 6,062 6,410 9,127 21.7%
Meat and edible meat offal 4,556 4,608 4,614 4,424 4,914 11.7%
Mineral fuels 504 639 558 789 3,177 7.6%
Wood and articles of wood 2,106 1,938 2,042 2,152 2,045 4.9%
Mechanical machinery 1,289 1,437 1,563 1,548 1,552 3.7%
Fruit 1,335 1,164 1,216 1,221 1,456 3.5%
Aluminium and articles thereof 1,040 1,052 1,384 1,541 1,445 3.4%
Fish, crustaceans and molluscs 1,108 1,119 1,173 1,106 1,145 2.7%
Iron and steel 675 726 775 843 975 2.3%
Electrical machinery 878 890 949 921 917 2.2%
Casein and caseinate 744 627 742 756 907 2.2%
Wool and other animal fibres 726 663 685 625 613 1.5%
Raw hides and skins 537 444 451 460 507 1.2%
Vegetables 377 354 381 429 418 1.0%
Precious stones, metals & jewellery 307 313 369 304 537 1.3%
Plastics and articles thereof 397 441 430 430 432 1.0%
Wood pulp 531 501 565 677 662 1.6%
Paper and paper product 604 592 457 499 531 1.3%
All other commodities 6,235 6,827 7,658 7,970 8,995 21.4%
TOTAL NEW ZEALAND PRODUCE 28,922 29,396 32,074 33,105 40,355 96.1%
Re-exports 1,126 1,374 1,794 1,486 1,618 3.9%
Total Merchandise Exports F.O.B. 30,048 30,770 33,868 34,591 41,973 100.0%
Composition of Principal Merchandise Imports
  Year ended 30 September
(dollar amount in millions)
  2004 2005 2006 2007 2008 2008
% of Total
Mechanical Machinery  4,473 4,770 4,916 4,997 5,756 13.0%
Vehicles  4,957 5,111 4,440 4,640 4,968 11.2%
Electrical machinery   3,153 3,105 3,268 3,592 3,740 8.4%
Mineral fuels   2,993 4,037 5,500 5,271 7,768 17.5%
Aircraft   1,175 686 2,018 898 978 2.2%
Plastic and articles thereof   1,169 1,307 1,379 1,451 1,564 3.5%
Optical, photographic, etc 1,033 1,069 1,142 1,107 1,197 2.7%
Paper and paperboard    875 861 907 893 948 2.1%
Pharmaceutical products   779 894 931 982 1,060 2.4%
Ships and boats   116 241 172 561 588 1.3%
Apparel and clothing accessories: not knitted 601 631 704 725 769 1.7%
Iron and steel  512 595 562 651 669 1.5%
Knitted and crocheted fabrics and articles thereof 429 450 519 548 586 1.3%
Printed books, newspapers, etc   358 360 387 409 412 0.9%
Iron or steel articles  549 639 658 762 823 1.9%
Chemical products n.e.s.  342 379 432 433 456 1.0%
Rubber and articles thereof 386 401 418 436 483 1.1%
Toys, games and sports requisites  322 352 362 397 423 1.0%
Organic chemicals   304 342 291 296 333 0.8%
Inorganic chemicals  162 185 193 186 225 0.5%
All other commodities  7,350 7,714 8,345 9,183 10,554 23.8%
TOTAL MERCHANDISE IMPORTS VFD  32,038 34,129 37,544 38,418 44,300 100.0%
C.I.F. Value 34,128 36,539 40,051 40,878 47,022  
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