Imports to New Zealand plunged 16 percent year-on-year to NZD 4.8 billion in August of 2020, amid restrictions due to the coronavirus pandemic. Purchases dropped mainly for vehicles, parts & accessories (-36.8 percent); petroleum & products (-36.2 percent), and mechanical machinery & equipment (-14.3 percent). On the other hand, purchases of electrical machinery & equipment increased 6.5 percent. Among major trading partners, imports declined from China (-7 percent), the US (-22.4 percent), Australia (-12.5 percent) and Japan (-28.6 percent), but rose from South Korea (26.7 percent).
Imports in New Zealand averaged 1736.63 NZD Million from 1960 until 2020, reaching an all time high of 6133.86 NZD Million in October of 2018 and a record low of 37.85 NZD Million in April of 1962. This page provides the latest reported value for - New Zealand Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Imports - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics New Zealand
Imports in New Zealand is expected to be 4800.00 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 5150.00 in 12 months time. In the long-term, the New Zealand Imports is projected to trend around 5300.00 NZD Million in 2021 and 5400.00 NZD Million in 2022, according to our econometric models.