China: We've got a lot of eggs in one basket

Wednesday 20 Apr 2022

(BusinessDesk) China's egg basket starting to smell fishy - The lure of access into China’s insatiable market means many New Zealand exporters have turned a blind eye to an old proverb: don’t put all your eggs in one basket.

There is no denying it’s been a lucrative play, in particular given the 2008 free trade deal and its subsequent upgrade.

“China has definitely been a big growth platform for everyone over 20 years. There is no doubt about that,” says Sanford chief executive, Peter Reidie.

Today, China takes a third of NZ's exports, including about 80% of NZ’s logs, 95% of its rock lobsters, 40% of meat and 40% of dairy.

Exports to China were $20.2 billion in the 12 months to February. That’s 19% higher than a year earlier. Our second-largest trading partner is Australia, which gets $8b. That's a hefty concentration in one market, by any measure.

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Source: BusinessDesk
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