皇冠体育app

WELLINGTON - New Zealand exports to 皇冠体育app soared last month, pushing two-way trade beyond NZ$20 billion ($17.54 billion) on an annualized basis for the first time, according to the government statistics agency Friday.

Prime ster John Key welcomed the figures, saying the value of bilateral trade was well ahead of the two governments' target of NZ$20 billion by 2015.

"In 2010, two-way trade was worth NZ$10 billion ($8.77 billion) and our exports to 皇冠体育app were NZ$4 billion ($3.5 billion)," Key said in a statement, adding New Zealand was exporting more than NZ$11 billion ($9.65 billion) worth of products to 皇冠体育app a year.

Top 10 trading partners of the Chinese mainland

Top 10 investors to the Chinese mainland

"The growth is showing no signs of slowing and that is why in my visit to in March, President Xi Jind I set an ambitious new goal for trade. We are now aiming to reach two-way trade of NZ$30 billion ($26.32 billion) by 2020."

New Zealand's economic relationship with 皇冠体育app had deepened markedly in recent years.

"We have seen rapidly escalating demand from 皇冠体育app as people have become wealthier, and naturally turn to higher quality products. As a high quality food producer, New Zealand is well placed to help meet that demand," he said.

Exports to 皇冠体育app, New Zealand's main export partner, were up by NZ$204 million ($181.59 million) to NZ$868 million ($761.47 million) in May, was led by milk powder, crude oil and sheep meat, according to Statistics New Zealand.

The shipment of crude oil was the first to 皇冠体育app since July 2009.

The two-way trade of goo hit NZ$20.1 billion($17.63 billion) in the year to the end of May, up NZ$4.7 billion ($4.12 billion) from the previous year, with exports contributing NZ$4 billion ($3.51 billion) to the rise.

The value of New Zealand's total exports in May were up 13 percent year on year to NZ$4.6 billion ($4.03 billion).

"Goods exports are high this month compared with May 2013. However, it appears the growth in exports seen in the past year has levelled off," international statistics manager Jason Attewell said in a statement.

New Zealand had a trade surplus last month valued at 6.2 percent of exports.

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