Canada trade strong

Press, 30 August 1978, Page 3

Canada trade strong

NZPA staff correspondent Washington Two-way trade between New Zealand and Canada reached record levels last year. The total of $141.8M was $2.3M higher than the previous peak in 1973. Trade statistics given by the New Zealand High Commission in Ottawa show that New Zealand exports to Canada exceeded S7OM for the fourth time in the last five years and that Canada’s exports, at $69.8M, were the highest recorded. New Zealand’s exports totalled S72M, only slightly under figures for 1973, 1974 and 1976, and were achieved in spite of limitations on the amount of beef allowed entry. Significant increases were recorded in lamb (1977 value 512.97 M), sausage casings ($5.76M), casein ($2.1 IM), wool ($6.27M), and wire rod ($3.88M). The only big decline was in beef and veal, down to $32.3M last year from $44.7M in 1976. The High Commission noted a change in the structure of New Zealand’s exports. While agricultural products still provide the bulk of New Zealand’s earnings in the Canadian market, their percentage share is declining. In 1976 they accounted for 94.8 per cent of sales but eased to 91.8 per cent the next year and declined to 86.6 per cent last year. The figures show however,

a steady growth in the export of manufactured goods. “New Zealand is exporting a wide range of products to Canada now and the basis has been laid for expansion of that trade,” the High Commission said.