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A glance at NZ trade after the coronavirus outbreak

Daily goods trade data between February 1 and March 18 gives an updated glance at New Zealand’s trade with the world since the COVID-19 outbreak, Stats NZ has released.

For the week ended 18 March 2020 with the equivalent week in 2019:

Total imports from all countries were down 11 per cent ($116 million), from $1.1 billion to $1.0 billion.

Total exports to all countries were up 3.7 per cent ($47 million), from $1.28 billion to $1.32 billion.

Imports from China were down 15 per cent ($28 million), from $191 million to $163 million.

Exports to China were down 14 per cent ($50 million), from $346 million to $296 million.

The data is provisional and should be regarded as an early, indicative estimate of intentions to trade only, subject to revision.

The data compares trade from February 1 and March 18 2020 against previous years. This allows for an estimate to be made of what may have happened to trade, if they had followed typical patterns.

Stats NZ urges caution in making decisions based on this provisional data.

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