New Zealand Balance of Trade

Last Release

Sep 30, 2024

Actual

-2,108

Units In

NZD Million

-2,306

Frequency

Monthly

Next Release

Nov 24, 2024

Time to Release

1 Months 2 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
1,350.34 Apr 2020	-2,625 Aug 2022	-100.98 NZD Million	1951-2024	Statistics New Zealand

New Zealand is greatly dependent on international trade. New Zealand's economy has traditionally been based on a foundation of exports from its very efficient agricultural system: dairy products, meat, forest products, fruit and beverages. New Zealand imports mainly vehicles, machinery and equipment, petroleum, electronics, plastics and aircraft. Its main trading partners are: China, Australia, the US, Japan and South Korea.

Latest Updates

New Zealand recorded a trade deficit of NZ$2.1 billion in September 2024, narrowing from a NZ$2.4 billion gap in the corresponding month of the previous year. Exports jumped by 5.2% from a year earlier to NZ$5.01 billion led by increase in outshipments of fruit (+105%); milk powder, butter, and cheese(15%); logs, wood, and wood articles (7.3%); and mechanical machinery and equipment (12%). On the other hand, imports fell by 0.9% year-on-year to NZ$7.1 billion amid lower purchases of vehicles, parts, and accessories (41%); petroleum and products (21%); cereals (56%) and food residues, wastes, and fodder(18%). During the month, New Zealand’s top export markets were China, Australia and the US, while top import partners were China, the EU and Australia.