What does NZ export to Korea?
New Zealand’s major exports to Korea include: industrial goods (metals, organic chemicals, plastics) forestry products, dairy, beef and lamb, kiwifruit and squash. New Zealand’s major imports from Korea include: refined oil, cars, electronic equipment and machinery.
Who is South Korea’s biggest trading partner?
South Korea is heavily integrated into international trade and ﬁnance and is subsequently highly vulnerable to external influences, especially from China, which is its main trade partner (25.1% of total exports), followed by United States (13.6%), Vietnam (8.9%), Hong Kong (5.9%) and Japan (5.2%).
Who is New Zealand’s biggest trading partner?
China is New Zealand’s largest trading partner, with two-way trade (exports and imports of goods and services) exceeding NZ$33 billion.
- New Zealand exports to China.
- New Zealand imports from China.
Does South Korea have a negative balance of trade?
A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. In 2020, South Korea’s trade surplus amounted to around 44.87 billion U.S. dollars….South Korea: Trade balance from 2010 to 2020 (in billion U.S. dollars)
|Characteristic||Trade balance in billion U.S. dollars|
Is New Zealand richer than South Korea?
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while New Zealand ranked 53rd with $204.9B….Gross Domestic Product & Income.
|Stat||New Zealand||South Korea|
|GDP per capita||$42k||$31k|
|GDP per capita growth||0.85%||2.33%|
Who does New Zealand have free trade agreements with?
Since 1983, New Zealand and Australia have traded through a Closer Economic Relationship (CER), which is a free trade agreement eliminating all tariffs between the two countries.
What is South Korea’s biggest export?
South Korea’s main exports include electronic products, machinery, motor vehicles (particularly automobiles), steel, ships, and textiles and clothing. With no petroleum reserves, South Korea must import substantial amounts of crude oil. Other imports include food, machinery, chemicals, and chemical products.
What does South Korea import the most?
South Korea’s Top 5 Commodity Imports
- Crude Petroleum – $74.8 billion.
- Petroleum Gas – $23.0 billion.
- Refined Petroleum – $20.2 billion.
- Coal Briquettes – $14.1 billion.
- Iron Ore – $4.6 billion.
What percentage of NZ trade is with China?
Since 2017, China has been New Zealand’s top trading partner, and from 2013 the second-largest trading partner. In the year ended December 2019, 23 percent of New Zealand’s total goods and services exports and 16 percent of imports by value were with China.
What is New Zealand’s biggest export?
New Zealand’s Top 10 Exports
- Meat: $5.6 billion (14.6%) Wood: $2.9 billion (7.6%)
- Alcoholic beverages: $1.4 billion (3.8%)
- Machines, engines, pumps: $1.3 billion (3.5%) Modified starches, enzymes: $1.1 billion (3%)
- Other food preparations: $876.8 million (2.3%) Aluminum: $835.3 million (2.2%)
How does South Korea make most of its money?
South Korea relies largely upon exports to fuel the growth of its economy, with finished products such as electronics, textiles, ships, automobiles, and steel being some of its most important exports.