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Growing the pie: the importance of Asia to NZ’s exports

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

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Growing the pie: the importance of Asia to NZ’s exports

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  1. 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

  2. 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

  3. NZ needs to lift its exports Source: OECD

  4. Asian demand helped us through GFC Contribution to NZ's goods export growth, past 3 years Source: Stats NZ

  5. Goods trade is shifting to emerging-Asia… Source: Stats NZ

  6. …as are exports of services through visitor arrivals and international student numbers* * (2011) Does not include Australian students Source: Stats NZ & Education Counts

  7. Asia is NZ’s biggest F&B market Source: Coriolis (2012)

  8. …and will continue to grow due to the region’s rapid growth in income and economic importance Source: IMF

  9. Demand for NZ exports… Source: ITC

  10. …is growing quickly in Asia Source: ITC

  11. NZ has a current advantage from FTAs

  12. 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

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