WTO 2022a

WTO. 2022a. Trade Policy Review [New Zealand] – Report by New Zealand (WTO Trade Policy Review Body, WT/TPR/G/426, 6 April 2022)

1.2. Trade is an important connector globally for NewZealand and has long been an important part of New Zealand's economy. This has been reinforced during the global COVID‐19 pandemic. Before the pandemic began in early 2020, exports and imports accounted for around 55% of New Zealand's Gross Domestic Product (GDP). This dropped to 44% by June 2021 as two of New Zealand's biggest export earners, tourism and international education, were severely hit by pandemic-related border closures and the sharp drop in international travel. Trade is now leading New Zealand's COVID‐19 economic recovery, and remains key to achieving the Government's goals of inclusive economic growth, increased productivity and the zero-carbon economy transition.