New Zealand posted a NZD 1295 million trade deficit in October 2018, compared with a NZD 840 million gap in the same month of the previous year and with market expectations of an NZD 850 million shortfall. It was the fifth straight monthly deficit, as imports jumped 14.0 percent year-on-year to an all-time high of NZD 6154 million and exports rose at a softer 6.6 percent to NZD 4859 million. Balance of Trade in New Zealand averaged -57.24 NZD Million from 1951 until 2018, reaching an all time high of 1157.64 NZD Million in April of 2011 and a record low of -1595.51 NZD Million in September of 2018.

Balance of Trade in New Zealand is expected to be -450.00 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 -1550.00 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
2018-08-23 10:45 PM Balance of Trade N$-143M N$-288M N$-400M N$ 100M
2018-09-25 10:45 PM Balance of Trade N$-1484M N$-196M N$-930M N$ -1300M
2018-10-24 09:45 PM Balance of Trade N$-1560M N$-1470M N$-1365M N$ -2100M
2018-11-26 09:45 PM Balance of Trade N$-1295M N$-1596M N$-850M N$ -700M
2018-12-19 09:45 PM Balance of Trade N$-1295M N$ -1700M
2019-01-29 09:45 PM Balance of Trade N$ -450M
2019-02-26 09:45 PM Balance of Trade



New Zealand Trade Deficit Widens Sharply



New Zealand posted a NZD 1295 million trade deficit in October 2018, compared with a NZD 840 million gap in the same month of the previous year and with market expectations of an NZD 850 million shortfall. It was the fifth straight monthly deficit, as imports jumped 14.1 percent year-on-year to an all-time high of NZD 6154 million and exports rose at a softer 6.6 percent to NZD 4859 million.

Exports went up 6.6 percent year-on-year to NZD 4.86 billion in October of 2018, a record high for that month. Among main categories, sales were triggered by fruits (+136.5 percent), mostly due to unusually high kiwifruit exports for an October month; meat and edible offal (+19.8 percent) and mechanical machinery & equipment (+23.1 percent). Petroleum products excluding crude oil exports  surged 234.4 percent to NZD 72 million. In contrast, exports of milk powder, butter & cheese declined 3.3 percent. Among major export partners, sales grew to China (24.3 percent), Korea (33.0 percent), the UK (39.0 percent), the EU (31.7 percent), Japan (19.7), and the US (17.7 percent) . In contrast, shipments fell to Hong Kong (-43.8 percent), Indonesia (-19.8 percent), and Australia (-4.1 percent). 

Imports jumped 14.1 percent to an all-time high of NZD 6.15 billion in October of 2018. Among main categories, imports were mainly driven petroleum and petroleum products (+68.2 percent), namely crude oil and fuels; electrical machinery and equipment (+19.9 percent), led by cellphones; mechanical machinery & equipment (+11.4 percent) textiles (+33.4 percent), and iron & steel (+26.3 percent). In contrast, sales of vehicles, parts and accessories went down 12.4 percent and those of aircrafts & parts fell 70.9 percent. Among top import partners, purchases were mainly driven by China (+41.4 percent), Korea (+47.7), UAE (+42.4 percent), Malaysia (+40.4 percent) and Australia (15.4 percent). In contrast, imports declined from the United States (-26.7 percent) and the European Union (-1.4 percent).


Mario | mario@tradingeconomics.com
11/27/2018 10:33:40 AM



New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade -1295.19 -1595.51 1157.64 -1595.51 NZD Million [+]
Current Account -1620.00 88.00 1411.00 -6102.00 NZD Million [+]
Current Account to GDP -2.80 -2.60 -0.10 -8.90 percent [+]
Imports 6154.19 5841.52 6154.19 37.85 NZD Million [+]
Exports 4859.00 4246.01 5508.34 19.68 NZD Million [+]
External Debt 278453.00 273275.00 278453.00 67673.00 NZD Million [+]
Terms of Trade 1444.00 1449.00 1472.00 796.00 Index Points [+]
Capital Flows -1736.00 393.00 7646.00 -3332.00 NZD Million [+]
Foreign Direct Investment -1510.00 486.00 3096.00 -7322.00 NZD Million [+]
Tourist Arrivals 283568.00 258155.00 513349.00 40.00 [+]
Terrorism Index 0.61 0.23 1.19 0.00 [+]
Weapons Sales 4.00 12.00 75.00 0.00 USD Million [+]
Crude Oil Production 28.00 25.00 72.00 15.00 BBL/D/1K [+]

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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-1295.19 -1595.51 1157.64 -1595.51 1951 - 2018 NZD Million Monthly




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4850.00 Oct/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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