Imports to New Zealand jumped 14.1 percent year-on-year to an all-time high of NZD 6.15 billion in October of 2018. Among main categories, imports were mainly driven petroleum and petroleum products (+68.2 percent), namely crude oil and fuels; electrical machinery and equipment (+19.9 percent), led by cellphones; mechanical machinery & equipment (+11.4 percent) textiles (+33.4 percent), and iron & steel (+26.3 percent). In contrast, sales of vehicles, parts and accessories went down 12.4 percent and those of aircrafts & parts fell 70.9 percent. Among top import partners, purchases were mainly driven by China (+41.4 percent), Korea (+47.7), UAE (+42.4 percent), Malaysia (+40.4 percent) and Australia (15.4 percent). In contrast, imports declined from the United States (-26.7 percent) and the European Union (-1.4 percent). Imports in New Zealand averaged 1632.10 NZD Million from 1960 until 2018, reaching an all time high of 6154.19 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 5700.00 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 5450.00 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.