China was New Zealand’s second-largest export market in February based on increased demand for milk powder, wood and wool.
Shipments to China surged 37% to NZ$3.76 billion (USD$2.6 billion) in the year ended Feb. 28, according to Bloomberg, citing Statistics New Zealand.
Sales to the US fell 22% to $3.6 billion. Australia is New Zealand’s largest trading market, followed by China, and then the US. Aussies buy about $9.27 billion worth of Kiwi goods per year.
Demand from China, the world’s fastest-growing major economy, is buoying overseas sales that make up 30% of New Zealand’s gross domestic product.
