International Economics between New Zealand and Morocco Research Paper

International Economics between New Zealand and Morocco - Research Paper Example The volume of export trade in New Zealand has been falling over the last two years. The export communities include meat, wood, and also mechanical machinery, with the top leader countries accounted for 56% of the total exports. Some of the top export markets include China, Korea, US, and Australia. On the other hand, the import of New Zealand has been on a rising trend over the years. The highest increase include the import from Brunei and Oman, while the imports entailed imports from Russia (Hirschman, 176). Some of the top partners were from Australia and China. Top 10 export commodities in New Zealand include dairy products like birds eggs and honey, meat, wood, prep milk, wood pulp, machinery, iron and steel, paper and paperboard, edible fruits, modified starch, and electric machinery while the top 10 imports in New Zealand include mineral fuel, electric machinery, boilers, plastics, vehicles, food industry residues, rubber articles, animal fats, miscellaneous edible fruits, and surgical instruments. In New Zealand, the terms of trade rose 1414 points in 2014 from 1389 in 2013. The terms of trade in the country was averaged at 1044.98 from 1957 to2014 reaching an index point of 1438 during the 2nd quarter of 1973 and lowest in 1975 with an index of 796. The index graph is as shown in the diagram below. Agriculture is the main economic block of New Zealand. The processing and production of the agricultural products lie wine, fruits, dairy products, and wool generate 16 per cent of the GDP and employs 15% of the workers (Helpman,  121). The products of agriculture generate almost half of the country’s GDP. In New Zealand, the regional and bilateral Free Trade Agreement play a crucial role in the international trade. The free trade agreement helps in maintaining high standards in protecting, supporting, and promoting sustainbale development and building capacity to address the issue of trade. The country has sought in