This report provides the latest stocktake on the bilateral NZ-US trade and economic relationship.
Executive Director, NZUS Council
Today the NZUS Council released the report: The NZ-US trade relationship: Stability and diversity in a time of change. Commissioned jointly with the New Zealand Ministry of Foreign Affairs and Trade, and written by Sense Partners, the report provides an independent overview of the bilateral trade and economic relationship.
It looks at how the relationship has grown steadily over the past 15 years. Goods and services trade expanded by an average of over 5% per year between 2007 and 2019, with services trade showing impressive average growth of almost 8% per year. The report effectively demonstrates the breadth, increasing diverse and vibrant and innovative nature of the commercial relationships we share with the US.
Key points from the report:
- The data analysis and case studies included in the report demonstrate the breadth of commercial links between New Zealand and the US.
- New Zealand’s export profile is becoming more diversified: services trade has become more important.
- Traditional pastoral goods exports are changing in nature and being supplement with horticultural products.
- Innovative, high-tech manufactured goods and services are supporting US firms’ productivity.
- New Zealand exporters are responding to US consumer demands for quality healthcare, medical and lifestyle products.
- The case studies highlight the value of relationships and cooperation.
The overall picture from the report is of a mature relationship with pockets of dynamism that is poised to evolve the benefit of both countries.