New Zealand Balance of Trade

Last Release

Jun 30, 2024

Actual

699

Units In

NZD Million

Frequency

Monthly

Next Release

Aug 19, 2024

Time to Release

26 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
1,350.34 Apr 2020	-2,625 Aug 2022	-95.04 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 reported a trade surplus of $699 million in June 2024, increasing sharply from a surplus of $204 million in May and exceeding forecasts of $294 million. The latest figure was also the highest since May 2020 as imports declined much faster than exports. Imports fell by 13% year-on-year to $5.5 billion as purchases tumbled for petroleum & products (-55%), vehicles, parts & accessories (-25%), pharmaceutical products (-21%) and iron, steel & articles (-26%). Exports also fell by 0.1% to $6.2 billion amid lower shipments for milk powder, butter & cheese (-10%), crude oil (-76%), precious metals, jewelry & coins (-35%) and logs, wood & wood articles (-7.7%). New Zealand’s top export markets in order of total annual goods were China, Australia, USA, EU and Japan, while the main import sources were China, EU Australia, USA and South Korea.