New Zealand’s trade deficit narrowed to NZD 0.578 billion in July 2025, down from NZD 1.022 billion a year earlier. Exports climbed 10% year-on-year to NZD 6.7 billion, supported by higher shipments of milk powder, butter, and cheese (up 17%), meat and edible offal (18%), precious metals, jewellery, and coins (69%), and milk, cereal, flour, and starch preparations (27%). Imports rose 2.3% to NZD 7.3 billion, driven by mechanical machinery and equipment (18%), vehicles and parts (13%), aircraft and parts (246%), and electrical machinery (5.8%). Export growth was broad, with shipments to China (7.1%), Australia (4.7%), the EU (28%), Japan (23%), and the US (7.7%) all increasing. Imports also rose from major trading partners, including China (6.9%), the EU (22%), Australia (2.7%), the US (24%), and South Korea (33%). Overall, strong global demand boosted key exports, while higher imports reflected growing purchases of machinery, vehicles, and equipment. source: Statistics New Zealand

New Zealand recorded a trade deficit of 578 NZD Million in July of 2025. Balance of Trade in New Zealand averaged -100.62 NZD Million from 1951 until 2025, 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 September of 2025.

New Zealand recorded a trade deficit of 578 NZD Million in July of 2025. Balance of Trade in New Zealand is expected to be -1600.00 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 -650.00 NZD Million in 2026 and -800.00 NZD Million in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-07-21 10:45 PM
Balance of Trade
Jun NZ$0.142B NZ$1.082B NZ$1.03B NZ$0.5B
2025-08-20 10:45 PM
Balance of Trade
Jul NZ$-0.578B NZ$0.203B NZ$0.07B NZ$0.1B
2025-09-18 10:45 PM
Balance of Trade
Aug NZ$-0.578B


Related Last Previous Unit Reference
Balance of Trade -578.00 203.00 NZD Million Jul 2025
Capital Flows 4075.00 -3072.00 NZD Million Mar 2025
Current Account -2320.00 -7040.00 NZD Million Mar 2025
Current Account to GDP -5.70 -6.60 percent of GDP Dec 2024
Exports 6710.00 6530.00 NZD Million Jul 2025
Foreign Direct Investment 3950.00 3153.00 NZD Million Mar 2025
Imports 7280.00 6330.00 NZD Million Jul 2025
Terms of Trade 1567.00 1506.00 points Jun 2025
Tourism Revenues 5605.00 4119.00 NZD Million Mar 2025
Visitor Arrivals YoY 186753.00 190593.00 Jun 2025

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
-578.00 203.00 1374.02 -2634.14 1951 - 2025 NZD Million Monthly

News Stream
New Zealand’s Trade Deficit Narrows in July
New Zealand’s trade deficit narrowed to NZD 0.578 billion in July 2025, down from NZD 1.022 billion a year earlier. Exports climbed 10% year-on-year to NZD 6.7 billion, supported by higher shipments of milk powder, butter, and cheese (up 17%), meat and edible offal (18%), precious metals, jewellery, and coins (69%), and milk, cereal, flour, and starch preparations (27%). Imports rose 2.3% to NZD 7.3 billion, driven by mechanical machinery and equipment (18%), vehicles and parts (13%), aircraft and parts (246%), and electrical machinery (5.8%). Export growth was broad, with shipments to China (7.1%), Australia (4.7%), the EU (28%), Japan (23%), and the US (7.7%) all increasing. Imports also rose from major trading partners, including China (6.9%), the EU (22%), Australia (2.7%), the US (24%), and South Korea (33%). Overall, strong global demand boosted key exports, while higher imports reflected growing purchases of machinery, vehicles, and equipment.
2025-08-20
New Zealand Expects No Reprieve on U.S. Tariffs: PM Luxon
New Zealand Prime Minister Christopher Luxon acknowledged Wellington is unlikely to secure a reduction in the newly imposed U.S. tariff on Kiwi goods. On August 1, the U.S. unexpectedly raised the tariff rate to 15%, up from the previously signaled 10%, and higher than rates applied to competitors like Australia and the UK. New Zealand responded by sending a senior trade official to Washington, with Trade Minister Todd McClay expected to follow. However, Luxon told Radio New Zealand today, “I don’t think it’s going to change our situation in a tariff sense, the President and the administration is pretty set on that.” He emphasized the importance of maintaining “ongoing dialogue with the Americans.” The U.S. ranked as New Zealand’s number two export destination, with shipments totaling NZD 9.3 billion over the past year.
2025-08-10
New Zealand Trade Surplus Narrows in June
New Zealand posted a trade surplus of NZD 142 million in June 2025, narrowing sharply from NZD 585 million in the same month a year earlier. Exports rose 10% year-over-year to NZD 6.6 billion, fueled by strong demand for key commodities such as milk powder, butter, and cheese (22%), fruit (25%), wood products (25%), and crude oil (169%). However, imports climbed at a faster 19% pace to NZD 6.5 billion, led by a surge in petroleum and related products (101%), vehicles and parts (13%), and electrical machinery (14%). Export growth was broad-based, with shipments to China up 11%, Australia 16%, and the EU 38%. On the import side, purchases increased from China (9.1%), the EU (0.8%), Australia (6.8%), the US (21%), and South Korea (40%), indicating strong demand across major trade partners.
2025-07-21