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Growing the pie: the importance of Asia to NZ’s exports. Presentation to the EPIC NZ conference. John Ballingall Deputy Chief Executive 18 May 2012. Outline. Why NZ needs to lift its exports How Asia helped us through the recession NZ exports are already shifting toward Asia - PowerPoint PPT Presentation
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Growing the pie: the importance of Asia to NZ’s exports
Presentation to the EPIC NZ conference
John BallingallDeputy Chief Executive18 May 2012
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Outline
► Why NZ needs to lift its exports► How Asia helped us through the recession► NZ exports are already shifting toward Asia► The shift is expected to continue► On-going NZ opportunities► FTA benefits/risks
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NZ needs to lift its exports
Source: OECD
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Asian demand helped us through GFC
Source: Stats NZ
Contribution to NZ's goods export growth, past 3 years
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Goods trade is shifting to emerging-Asia…
Source: Stats NZ
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…as are exports of services
Source: Stats NZ & Education Counts
through visitor arrivals and international student numbers*
* (2011) Does not include Australian students
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Asia is NZ’s biggest F&B market
Source: Coriolis (2012)
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…and will continue to grow due to
Source: IMF
the region’s rapid growth in income and economic importance
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Demand for NZ exports…
Source: ITC
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…is growing quickly in Asia
Source: ITC
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NZ has a current advantage from FTAs
NZ-China FTAChina tariffs
NZ All others
Milk Powder 0' 10Beef 0+ 12Wool 0* 38Lamb 0+ 15Butter 0= 10
'Eliminated in 2012+Eliminated in 2016
*Country specific tariff quota of 28,941 tonnes=Eliminated in 2017
AANZFTAIndonesia tariffs
NZ All others
Milk Powder 0' 5Frozen Beef 0 5Malt extract 0 5Butter 0 5Fibreboard 0 5
'Eliminated in 2019
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Summary
► NZ’s export performance has been lagging► China lessened our burden from the GFC► NZ export patterns are shifting to Asia► The region’s performance will see this continue► Asian demand for NZ’s exports is growing rapidly► FTAs present NZ with a temporary advantage in
some of these markets