New Zealand Trade Surplus Below Estimates

2026-07-19 22:56 By Chusnul Chotimah 1 min. read

New Zealand's trade surplus narrowed to NZD 0.02 billion in June 2026, down from NZD 0.16 billion in the same month a year earlier and below estimates of NZD 0.25 billion.

It was the smallest trade surplus since February, when the trade balance posted a deficit, as exports grew less than imports.

Exports grew 24.8% yoy to NZD 8.09 billion, mainly driven by higher sales of milk powder, butter, and cheese (15.7%); meat and edible offal (51.8%); preparations of milk, cereals, flour, and starch (129.8%); and aluminum and aluminum articles (73.7%).

Among trading partners, exports to China surged 23.5%, while shipments to the US jumped 42.8%.

Meanwhile, exports to Australia and Japan rose 18.4% and 6.9%, respectively.

Imports jumped 27.8% yoy to NZD 8.07 billion, mainly driven by higher purchases of petroleum and petroleum products (up 99.7%) and mechanical machinery and equipment (22.5%).

By source, imports rose from China (32.1%), Australia (23.5%), South Korea (41.2%), and the EU (23.5%).



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