trade tagged posts

New Zealand and China Ease Customs Procedures

April 20, 2016 New Zealand Finance

Exporters in China and New Zealand will see eased customs requirements in the near future.

New Zealand will be the first country to have a Joint Electronic Verification (JEV) with China for imports and exports, according to information in a press release issued by Customs Minister Nicky Wagner on April 19th.

The JEV will be an electronic data system accessible by Customs in China in New Zealand containing information regarding imports and exports between the two countries.

Currently, goods exported between China and New Zealand may qualify for tariff reductions not available on goods coming from other countries.

However, in order to enjoy the reduced tariffs, the exporter must provide a Certificate of Origin to show that the goods do originally come from either China or New Zealand.

The J...

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Import and Export Values Jump in November

January 10, 2012 New Zealand Finance

import or exportThe value of the foreign trade into and out of New Zealand increased in November, but the national trade balance remained in deficit.

On January 9th Statistics New Zealand released the country’s trade figures for November 2011, showing that both imports and exports were higher during the month of November 2011 compared to period last year, primarily due to rising prices of commodities.

In November the national trade balance was in deficit by NZD 308 million, with a total export value of NZD 3.9 billion and import value of NZD 4.2 billion.

The value of all imports into New Zealand in November rose by NZD 382 million, compared to imports during the same period in 2010. The rise of 10 percent was driven mainly by greater imports of crude oil and fertilizers.

Exports rose by NZD 251 million...

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NZ Trade Balance Lowered

April 30, 2009 New Zealand Finance  No comments

The New Zealand trade surplus for March has been reported at $324 million, a high number for March, a low number for surrounding month.

New Zealand posted a total of $324 million as its trade surplus for the month of March, which is the highest March surplus for New Zealand since 2002. Although this figure is 56% lower than the $489 million of February.

Since February, the demand for import items has increased by 25% and the demand for exports only 16.8%. This is in part attributed to the decrease in oil prices and decrease in vehicle demand. Other explanations include the fact that importers order stock in advance and this drop could be a product of last April’s or May’s demand.

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