The Treasurer’s Guide to Trade Finance

New Zealand

Trade information

Key trading partners

Imports by origin

China 16.0%

Australia 16.0%

EU 15.5%

United

States 10.3%

Japan 6.1%

Other 36.1%

Source: WTO, September 2012

Exports by destination

Australia 22.7%

China 12.4%

EU 10.7%

United

States 8.4%

Japan 7.2%

Other 38.6%

New Zealand imports exports

Bank accounts

ƒ Resident companies can hold local currency

(NZD) bank accounts outside New Zealand.

ƒ Resident companies can hold foreign

currency bank accounts both within and

outside New Zealand.

ƒ Non-resident companies can hold local

currency bank accounts both within and

outside New Zealand.

ƒ Non-resident companies can hold foreign

currency bank accounts in New Zealand.

Principal exports

Dairy products, meat, wood and wood products,

fish, and machinery.

Documentation

Imports

ƒ Commercial invoice, bill of lading, packing

list, customs declaration and, sometimes, a

certificate of origin.

Exports

ƒ Commercial invoice, bill of lading, packing

list, customs declaration and, sometimes, a

certificate of origin.

Licences

Imports

ƒ Certain items for reasons of health or

security.

Exports

ƒ Strategic items, antiques, animal and dairy

products, kiwifruit, various horticultural

products, and various species of flora and

fauna.

Tariffs/Taxes

Imports

ƒ New Zealand has significantly reduced the

number of imported items subject to tariffs.

ƒ Tariffs are levied on non-primary products

that are in competition with domestically

produced products.

ƒ A 10 percent import tariff applies to carpets,

apparel, footwear, ambulances and motor

homes.

ƒ Imports from non-preferential sources are

usually subject to a 5 percent tariff.

ƒ No tariffs are levied on imports from Australia

and Singapore.

ƒ Imports from the world’s 49 least developed

countries and from the Pacific Island nations

are also exempt from tariffs.

ƒ In accordance with the South Pacific

Regional Trade and Economic Cooperation

Agreement (SPARTECA), non-reciprocal

preferential tariffs are applied by Australia

and New Zealand to imports from their 13

fellow Pacific Islands Forum member states.