The trade gap in New Zealand rose to NZD 685 million in July of 2019 from NZD 203 million in the same month of the previous year, as exports declined 5.8 percent to NZD 5,028 million while imports advanced 3.1 percent to NZD 5,713 million. The twelve-month trade shortfall widened to NZD 5,463 million from NZD 4,501 million a year earlier. Balance of Trade in New Zealand averaged -57.83 NZD Million from 1951 until 2019, reaching an all time high of 1157.64 NZD Million in April of 2011 and a record low of -1579.92 NZD Million in September of 2018.

Balance of Trade in New Zealand is expected to be -1575.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in New Zealand to stand at 200.00 in 12 months time. In the long-term, the New Zealand Balance of Trade is projected to trend around -300.00 NZD Million in 2020, according to our econometric models.

New Zealand Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-23 10:45 PM Balance of Trade Apr N$433M N$824M N$400M N$ 600M
2019-06-24 10:45 PM Balance of Trade May N$264M N$383M N$200M N$ 200M
2019-07-23 10:45 PM Balance of Trade Jun N$365M N$175M N$100M N$100M
2019-08-25 10:45 PM Balance of Trade Jul N$-685M N$331M N$120M
2019-09-24 10:45 PM Balance of Trade Aug N$-685M N$-1464M N$-1390M
2019-10-22 09:45 PM Balance of Trade Sep N$ -975M
2019-11-26 09:45 PM Balance of Trade Oct



New Zealand Trade Deficit Widens in July

The trade gap in New Zealand rose to NZD 685 million in July of 2019 from NZD 203 million in the same month of the previous year, as exports declined 5.8 percent to NZD 5,028 million while imports advanced 3.1 percent to NZD 5,713 million. The twelve-month trade shortfall widened to NZD 5,463 million from NZD 4,501 million a year earlier.

Exports fell 5.8 percent year-on-year to NZD 5,028 million, after a downwardly revised 1.5 percent gain in the previous month, dragged down by lower sales of milk powder, butter and cheese (-16.1 percent); meat and edible offal (-6.6 percent) and logs, wood and wood articles (-18.7 percent).

By destination, exports went down to the US (-8.8 percent), Korea (-12.6 percent) and the UK (-11.2 percent). In contrast, shipments increased to China (2.4 percent), Australia (0.8 percent) and Japan (6.8 percent). 

Imports went up 3.1 percent year-on-year to NZD 5,713 million, after falling an upwardly revised 10.2 percent in the prior month, due to higher purchases of mechanical machinery and equipment (10.8 percent). On the other hand, imports dropped for vehicles, parts and accessories (-4.0 percent) and petroleum and products (-10.7 percent). 

Among major trading partners, imports went up from Australia (12.7 percent), the US (5.7 percent) and Germany (34.8 percent). Meanwhile, purchases dropped from China (-1.8 percent), Japan (-2.5 percent) and the United Arab Emirates (-27.6 percent). 


Statistics New Zealand | Rafael Gonzalez | rafael.gonzalez@tradingeconomics.com
8/26/2019 7:48:11 AM



New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade -685.16 331.14 1157.64 -1579.92 NZD Million [+]
Current Account -1106.00 721.00 1737.00 -6236.00 NZD Million [+]
Current Account to GDP -3.60 -3.00 -0.10 -8.90 percent [+]
Imports 5713.22 4634.45 6133.86 37.85 NZD Million [+]
Exports 5028.06 4965.59 5747.91 19.68 NZD Million [+]
External Debt 284710.00 282892.00 284710.00 67673.00 NZD Million [+]
Terms of Trade 1437.00 1415.00 1472.00 796.00 Index Points [+]
Capital Flows -14.00 -349.00 7263.00 -3332.00 NZD Million [+]
Foreign Direct Investment 4994.00 -1110.00 4994.00 -7322.00 NZD Million [+]
Tourist Arrivals 255585.00 213500.00 529255.00 40.00 [+]
Terrorism Index 0.29 0.61 1.19 0.00 [+]
Weapons Sales 6.00 4.00 75.00 1.00 USD Million [+]
Crude Oil Production 26.00 27.00 72.00 15.00 BBL/D/1K [+]
Global Dairy Trade Price Index 2.00 -0.40 22.60 -14.00 percent [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-685.16 331.14 1157.64 -1579.92 1951 - 2019 NZD Million Monthly




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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