New Zealand's trade deficit widened to NZD 1.97 billion in September 2026, up from NZD 1.41 billion in the same month a year earlier and surpassing estimates of a NZD 0.78 billion gap. Exports rose 12.3% yoy to NZD 6.47 billion, following a downwardly revised 12.4% growth in August. Higher exports of milk powder, butter, and cheese (9.6%); meat and edible offal (22.4%); and aluminium and aluminium articles (53.0%) drove export growth. Among trading partners, exports to China grew 13.8%, while those to the US rose 8.7%, Australia 8.4%, and the EU 9.2%. Meanwhile, imports grew 17.7% yoy to NZD 8.44 billion, after a downwardly revised 13.21% rise in August. Higher purchases of petroleum and petroleum products (95.8%), electrical machinery and equipment (25.7%), and mechanical machinery and equipment (9.0%) drove the increase. By source, imports from China grew 26.1%, while those from Australia and South Korea rose 10.6% and 23.6%, respectively, but imports from the US fell 8.3%. source: Statistics New Zealand

New Zealand recorded a trade deficit of 1971 NZD Million in September of 2026. Balance of Trade in New Zealand averaged -109.36 NZD Million from 1951 until 2026, reaching an all time high of 1534.73 NZD Million in April of 2026 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 November of 2026.

New Zealand recorded a trade deficit of 1971 NZD Million in September of 2026. Balance of Trade in New Zealand is expected to be 30.00 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 50.00 NZD Million in 2027 and 200.00 NZD Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-17 10:45 PM
Balance of Trade
Aug NZ$-1.349B NZ$-2.118B NZ$-1.775B NZ$-2.3B
2026-10-18 09:45 PM
Balance of Trade
Sep NZ$-1.971B NZ$-1.536B NZ$-0.775B NZ$ -1.2B
2026-11-18 09:45 PM
Balance of Trade
Oct NZ$-1.971B NZ$-1.2B


Related Last Previous Unit Reference
Balance of Trade -1970.96 -1535.71 NZD Million Sep 2026
Capital Flows 4677.00 -5074.00 NZD Million Jun 2026
Current Account -1670.00 -1085.00 NZD Million Jun 2026
Current Account to GDP -3.70 -4.70 percent of GDP Dec 2025
Exports 6466.75 6482.06 NZD Million Sep 2026
Foreign Direct Investment 4435.00 5471.00 NZD Million Jun 2026
Imports 8437.71 8017.76 NZD Million Sep 2026
Terms of Trade 1421.00 1562.00 points Jun 2026
Tourism Revenues 3912.00 6456.00 NZD Million Jun 2026
Visitor Arrivals YoY 248714.00 256638.00 Aug 2026


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
-1970.96 -1535.71 1534.73 -2634.14 1951 - 2026 NZD Million Monthly

News Stream
New Zealand Trade Gap Tops Forecasts
New Zealand's trade deficit widened to NZD 1.97 billion in September 2026, up from NZD 1.41 billion in the same month a year earlier and surpassing estimates of a NZD 0.78 billion gap. Exports rose 12.3% yoy to NZD 6.47 billion, following a downwardly revised 12.4% growth in August. Higher exports of milk powder, butter, and cheese (9.6%); meat and edible offal (22.4%); and aluminium and aluminium articles (53.0%) drove export growth. Among trading partners, exports to China grew 13.8%, while those to the US rose 8.7%, Australia 8.4%, and the EU 9.2%. Meanwhile, imports grew 17.7% yoy to NZD 8.44 billion, after a downwardly revised 13.21% rise in August. Higher purchases of petroleum and petroleum products (95.8%), electrical machinery and equipment (25.7%), and mechanical machinery and equipment (9.0%) drove the increase. By source, imports from China grew 26.1%, while those from Australia and South Korea rose 10.6% and 23.6%, respectively, but imports from the US fell 8.3%.
2026-10-18
New Zealand Trade Gap Below Estimates
New Zealand's trade deficit widened to NZD 1.35 billion in August 2026, up slightly from NZD 1.31 billion in the same month a year earlier but below estimates of a NZD 1.78 billion gap. Exports grew 15.4% yoy to NZD 6.66 billion, after a downwardly revised 10.8% growth in July. Export growth was mainly driven by higher exports of milk powder, butter, and cheese (7.6%); meat and edible offal (23.3%); and precious metals, jewellery, and coins (53.2%). Among trading partners, exports to China grew 15.8%, while shipments to the US fell 6.6%. Meanwhile, imports rose 13.1% yoy to NZD 8.0 billion, following a 28.4% jump in July, mainly driven by higher purchases of petroleum and petroleum products (42.7%), vehicles, parts, and accessories (30.2%), electrical machinery and equipment (25.4%), and mechanical machinery and equipment (14.7%). By source, imports advanced from China (29.0%), Australia (6.5%), South Korea (88.1%), and the EU (16.5%), while imports from the US fell by 8.9%.
2026-09-17
New Zealand Trade Gap Largest in Near 2 Years
New Zealand's trade deficit widened to NZD 1.94 billion in July 2026, up from NZD 0.76 billion in the same month a year earlier and surpassing estimates of NZD 0.32 billion. It was the largest trade deficit since September 2024, as exports increased less than imports. Exports rose 13.5% yoy to NZD 7.39 billion, mainly driven by higher sales of milk powder, butter, and cheese (6.4%); meat and edible offal (34.1%); aluminum and aluminum articles (43.4%); and fruit (15.1%). Among trading partners, exports to China rose 14.4%, while shipments to the US surged 29.5%. Meanwhile, imports surged 28.4% yoy to a record high of NZD 9.34 billion, following a downwardly revised 27.5% jump in June. The surge in import growth was mainly driven by higher purchases of petroleum and petroleum products (127.2%) and vehicles, parts, and accessories (37.5%). By source, imports increased from China (21.2%), Australia (12.9%), South Korea (18.3%), and the EU (19%), while imports from the US fell (-1.7%).
2026-08-20