New Zealand recorded a trade deficit of NZD 475 million in December 2022, the lowest in seven months, and below a NZD 990.3 million gap in December of 2021. Goods exports rose 11% to NZD 6.7 billion, led by milk powder, butter, and cheese; casein and caseinates; and wine. Meanwhile, goods imports increased at a slower 1.8% to NZD 7.2 billion, prompted by purchases of aircraft and parts. Considering full 2022, exports jumped 14% to NZD 72.2 billion, led by sales of dairy, meat and other animal products although many major export commodities eased in volume but saw price increases. Yet, sales of milk powder, butter, and cheese which account for 28% of total exports jumped 21% to reach a new high of NZD 20.6 billion. This increase was price driven, as quantities fell 7.3%. Total imports also rose sharply by 23% to NZD 86.7 billion amid high prices, pushing the 2022 trade deficit to NZD 14.5 billion, nearly twice the NZD 7.1 billion gap in 2021. source: Statistics New Zealand

Balance of Trade in New Zealand averaged -82.43 NZD Million from 1951 until 2022, reaching an all time high of 1374.02 NZD Million in April of 2020 and a record low of -2634.14 NZD Million in August of 2022. This page provides the latest reported value for - New Zealand Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Balance of Trade in New Zealand is expected to be -1000.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Balance of Trade is projected to trend around -740.00 NZD Million in 2024 and -660.00 NZD Million in 2025, according to our econometric models.

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New Zealand Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-12-20 09:45 PM Nov NZ$-1863M NZ$-2298M NZ$-1800M
2023-01-29 09:45 PM Dec NZ$-0.475B NZ$-2.18B NZ$-1.1B
2023-02-21 09:45 PM Jan NZ$-0.475B


Related Last Previous Unit Reference
Balance of Trade -475.39 -2179.86 NZD Million Dec 2022
Current Account -10205.00 -5423.00 NZD Million Sep 2022
Current Account to GDP -6.50 -2.70 percent of GDP Dec 2021
Exports 6716.93 6339.80 NZD Million Dec 2022
Imports 7192.32 8519.66 NZD Million Dec 2022
Terms of Trade 1440.00 1491.00 points Sep 2022
Capital Flows 5148.00 8654.00 NZD Million Sep 2022
Foreign Direct Investment 2134.00 5624.00 NZD Million Sep 2022
Tourist Arrivals 231313.00 161631.00 Nov 2022

New Zealand Balance of Trade
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.
Actual Previous Highest Lowest Dates Unit Frequency
-475.39 -2179.86 1374.02 -2634.14 1951 - 2022 NZD Million Monthly

News Stream
New Zealand Trade Gap Falls in December
New Zealand recorded a trade deficit of NZD 475 million in December 2022, the lowest in seven months, and below a NZD 990.3 million gap in December of 2021. Goods exports rose 11% to NZD 6.7 billion, led by milk powder, butter, and cheese; casein and caseinates; and wine. Meanwhile, goods imports increased at a slower 1.8% to NZD 7.2 billion, prompted by purchases of aircraft and parts. Considering full 2022, exports jumped 14% to NZD 72.2 billion, led by sales of dairy, meat and other animal products although many major export commodities eased in volume but saw price increases. Yet, sales of milk powder, butter, and cheese which account for 28% of total exports jumped 21% to reach a new high of NZD 20.6 billion. This increase was price driven, as quantities fell 7.3%. Total imports also rose sharply by 23% to NZD 86.7 billion amid high prices, pushing the 2022 trade deficit to NZD 14.5 billion, nearly twice the NZD 7.1 billion gap in 2021.
2023-01-29
New Zealand Trade Deficit Widens in November
New Zealand recorded a trade deficit of NZD 1.86 billion in November of 2022, widening from NZD 1.08 billion in the corresponding month of the previous year as soaring energy prices continued to inflate import values. Goods imports soared by 26 percent to NZD 8.5 billion amid higher purchases of petroleum and products (117 percent to NZD 557 million), vehicles, parts, and accessories (48 percent to NZD 374 million), and aircraft and parts (160 percent to NZD146 million). On the other hand, exports rose at a softer 18 percent to NZD 6.7 billion, supported by sales of dairy products (19 percent to NZD 375 million), while exports of petroleum products fell by 84 percent to NZD 23 million.
2022-12-20
New Zealand Trade Deficit Widens in October
New Zealand recorded a trade deficit of 21.29 NZD billion in October of 2022 versus 16.15 billion in the previous month. Goods exports rose $758 million (14 percent) to $6.1 billion in October 2022, compared with October 2021. Milk powder, butter, and cheese was the largest contributor to the rise, up $503 million (34 percent) to $2.0 billion. Goods imports rose $1.6 billion (24 percent) to $8.3 billion in October 2022, compared with October 2021. Vehicles, parts, and accessories rose $323 million (37 percent) to $1.2 billion. Petroleum and products rose $289 million (44 percent) to $943 million.
2022-11-21