Imports to New Zealand rose 6.6 percent year-on-year to NZD 5.22 billion in December of 2018, mainly driven by higher purchases of petroleum & products (58.1 percent to NZD 684 million), namely crude oil (80 percent) and petroleum other than crude (17 percent); and aircrafts & parts (509.3 percent to NZD 180 million). Meanwhile, purchases declined for vehicles, parts & accessories (-1.3 percent to NZD 735 million); mechanical machinery & equipment (-3.7 percent to NZD 774 million); food industry residues, wastes & fodder (-47.1 percent to NZD 53 million) and fertilizers (-52.4 percent to NZD 34 million). By main destinations, imports went up from Australia (+11.6 percent), China (+6.6 percent), the US (+5.8 percent) and the EU (+4.2 percent). Imports in New Zealand averaged 1643.10 NZD Million from 1960 until 2018, reaching an all time high of 6133.94 NZD Million in October of 2018 and a record low of 37.85 NZD Million in April of 1962.
Imports in New Zealand is expected to be 5100.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in New Zealand to stand at 5300.00 in 12 months time. In the long-term, the New Zealand Imports is projected to trend around 5400.00 NZD Million in 2020, according to our econometric models.