Imports to New Zealand advanced 7.6 percent year-on-year to NZD 5.54 billion, after rising 7.4 percent in the prior month, beating expectations of NZD 5.40 billion. Purchases were mainly boosted by petroleum & products, up 47.8 percent to NZD 0.72 billion, due to a planned maintenance shutdown of the Marsden Point oil refinery in the same month of 2018; aircraft and parts (87.5 percent); and mechanical machinery and equipment (4.6 percent). On the other hand, imports of vehicles were down 19.9 percent to NZD 0.74 billion and purchases of electrical machinery & equipment declined 4.0 percent to NZD 0.44 billion. By country of origin, imports rose from Australia (8.2 percent), the US (8.1 percent), China (5.1 percent), and the EU (3.5 percent). Imports in New Zealand averaged 1667.41 NZD Million from 1960 until 2019, reaching an all time high of 6133.86 NZD Million in October of 2018 and a record low of 37.85 NZD Million in April of 1962.
Imports in New Zealand is expected to be 5300.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in New Zealand to stand at 4500.00 in 12 months time. In the long-term, the New Zealand Imports is projected to trend around 5400.00 NZD Million in 2020, according to our econometric models.