New Zealand Balance of Trade

Last Release

Nov 30, 2024

Actual

-437

Units In

NZD Million

-1,544

Frequency

Monthly

Next Release

Jan 29, 2025

Time to Release

1 Months 8 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
1,350.34 Apr 2020	-2,625 Aug 2022	-103.04 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$0.4 billion in November 2024, improving from a NZ$1.2 billion deficit a year earlier. Exports grew 9.1% year-on-year to NZ$6.48 billion, with notable increases in milk powder, butter, cheese (+12%), precious metals, jewellery, and coins (+51%), and fruit (+162%). However, exports fell for casein (-22%), iron and steel (-20%), machinery (-6.2%), and edible preparations (-7.8%). Imports decreased 3.9% to NZ$6.91 billion, driven by declines in petroleum (-32%), aircraft parts (-74%), and vehicles (-14%), while imports of fertilisers (+123%), electrical machinery (+7.3%), and sugars (+103%) increased. 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.