Kia ora koutou,

It has been another interesting week with the change in alert levels, lets remain vigilant as we navigate through these challenging times of COVID-19.

As we well know, the pandemic is putting global supply chains under intense pressure and disrupting trade.

New Zealand is working with our trading partners to help ensure that trade continues to flow unimpeded and to remove any existing trade restrictive measures on essential goods, especially medical supplies, to protect supply chains and to keep critical infrastructure such as air and seaports open.

If you are exporting and experiencing challenges getting your products to international markets, please contact the team at New Zealand Ministry of Foreign Affairs and Trade who want to know immediately. Please call them on 04 439 8000 or email enquiries@mfat.govt.nz.

Ngā mihi,

Chris Karamea Insley

Supply Chains Report

A new Supply Chains Report for January/February has been prepared by the Trade Recovery Unit at the Ministry of Foreign Affairs (MFAT) and is available here.

MFAT’s network of posts around the globe monitor the operation of New Zealand’s international sea and air freight connectivity. This report provides a snapshot of how global supply chains are functioning offshore, the significant international initiatives affecting supply chains, and other issues of interest to New Zealand exporters and importers.

US Economy Shrinks in 2020

The US economy shrank by 3.5 percent in 2020, its worst performance since the end of WWII.

Consumer spending is yet to rebound to its pre-pandemic levels and state and local governments have cut back their spending in the fourth quarter as COVID-19 continues to impact on business openings and travel.

However, New Zealand exports have performed well despite an overall drop in US exports and imports. 

German Seafood Market

Another new report has also been published – The German Seafood Market, which includes details on German seafood consumption and the growing importance of sustainability.

Prepared by the New Zealand Embassy in Berlin, the report summary shows;

·         Germans are not big fish eaters, yet Germany is still a significant seafood market, and one that has proven fairly resilient. Consumption increased last year, and the outlook is positive.

·         A particular feature of the German seafood market is the growing focus on sustainable sources, with relevant certification (e.g. MSC, ASC) increasingly being the new norm for market entry.

Republic of Korea: The Hydrogen Economy

The Republic of Korea is moving at scale and speed to develop a hydrogen economy, with incentives and initiatives to encourage the production, import and consumption of hydrogen.

Korea’s search for international partners provides opportunities in hydrogen production, transportation and the development of hydrogen fuel cells, vehicles and charging stations.

This report highlights the potential opportunities for business in Korea’s hydrogen economy. 

Netherlands: Report on the Dutch Economy

Prepared by the New Zealand Embassy in The Hague the report details the impacts of the COVID-19 pandemic and associated government restrictions, which have led to the largest ever drop in Dutch GDP in 2020, with the economy shrinking by 3.8%. 

Philippines: Fourth Quarter and Annual Update

In 2020, the Philippines economy shrank by 9.5%. This was the first economic contraction in more than two decades, and the worst contraction since records began being kept in 1946. In the fourth quarter, GDP contracted by 8.3% compared to the same period the previous year.

This update provides a summary of the country’s economy, its prospects and implications for New Zealand businesses.