September trade balance data from New Zealand.
Inside the data release is info on exports to China:
- “Over the past decade, exports to China have been steadily increasing, with a flat period during COVID-19, but in recent months this has started to shift,”
- Annual exports to China have been falling since May 2023
- “China is an especially important market for exporters in our primary sectors of food and forestry,”
China's stumbling economic recovery is playing out in reduced demand for products across the globe, not just from New Zealand.
