New Zealand Balance of Trade

New Zealand's trade deficit widened to NZD 584 million in April of 2022 from NZD 397 million in the corresponding month of the previous year. Imports climbed 15 percent year-on-year to NZD 5,730 million, led by purchases of pharmaceutical products (92 percent), mechanical machinery and equipment (15 percent); food residues, wastes, and fodder (91 percent), and other chemical products (159 percent). Imports went up from all top partners, namely China (8.9%); the EU (18%); Australia (44%); the US (29%) and Japan (0.5%). Meanwhile, exports advanced by 17 percent to a lower NZD 6,310 million, mainly driven by sales of milk powder, butter, and cheese (30%); and meat and edible offal (16%). Exports increased to Australia (4.9%), the US (26%) the EU (26%), and Japan (58%) but declined to China (-1.8%).