The value of trade in both imports and exports with Southeast Asia has grown significantly in the year ending June 2023, according to figures released by Stats NZ. Of the countries in Southeast Asia, imports from Singapore rose the most, up $3.1 billion (131 percent) from the year ending June 2022, to $5.4 billion.
The largest rise was petroleum and products other than crude oil, up $3.1 billion (212 percent) from $1.5 billion, to a total of $4.6 billion.
“Singapore’s oil refining facilities have led to it being a major provider of petrol and diesel imported by New Zealand,” international trade manager Alasdair Allen said today.
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