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Asia takes growing share of New Zealand commercial services market (2)

(Xinhua)

14:41, February 22, 2012

Exports of commercial services accounted for 29.6 percent of total service exports in 2011, up from 19.8 percent in 2005, while they were 39.8 percent of total service imports, compared with 30. 3 percent in 2005.

The increase in service exports was partly driven by New Zealand companies receiving more management fees from their overseas subsidiaries, said the statement.

Information technology companies also received more revenue from abroad for their software design and royalties.

The increase in imports of services was partly due to a rise in management fees paid by New Zealand companies to their foreign head offices, reflecting the increasing presence of foreign companies in New Zealand.

For the first time, the Census of International Trade in Services and Royalties measured how service exports were delivered to overseas clients and found that 85.8 percent of all commercial service exports were provided to foreign customers by the Internet, e-mail or phone.

Commercial services include information technology and engineering services, royalties, management fees between related companies, and other business services such as accounting and legal services.

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