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New Zealand Balance of Trade

Last Release
Feb 29, 2024
Actual
-218
Units In
NZD Million
Previous
-1,089
Frequency
Monthly
Next Release
Apr 23, 2024
Time to Release
30 Days 22 Hours
Highest
Lowest
Average
Date Range
Source
1,350.34
Apr 2020
-2,625
Aug 2022
-96.76 NZD Million1951-2024Statistics 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's trade deficit shrank to $0.218 billion in February 2024 from $0.846 billion in the corresponding month of the previous year. Exports jumped by 16% from a year earlier to $5.89 billion, driven by increase in outbound shipment of Milk powder, butter, and cheese (+26 percent to $1.9 billion); meat and edible offal (+16 percent) and log, wood, and wood articles (+21 percent). Among major trading partners, exports increased to China (+10%); Australia (+5.9%); the USA (+52%) and the EU (+7.9%). Meanwhile, imports rose by 3% to $6.11 billion, as purchases went up for petroleum and products (+24 percent); textiles and textiles articles (+13 percent) and sugar (+13 percent). Meanwhile, imports rose by 3% to $6.11 billion, as purchases went up for petroleum and products (+24 percent); textiles and textiles articles (+13 percent) and sugar (+13 percent). Imports increased from China (+7.1%); Australia (+7%) and South Korea (42%).

New Zealand Balance of Trade History

Last 12 readings

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