New Zealand trade surplus narrowed to NZD 264 million in December 2018 from NZD 614 million in the same month of the previous year and above market expectations of a NZD 225 million surplus. It was the first monthly surplus in seven months and the largest in a year, as imports rose 6.6 percent year-on-year and exports edged down 0.5 percent. The annual trade deficit widened to NZD 5.9 billion, the largest since October 2007 driven by a sharp rise in fuel and crude oil imports. Balance of Trade in New Zealand averaged -57.94 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 -1579.92 NZD Million in September of 2018.

Balance of Trade in New Zealand is expected to be 400.00 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 -400.00 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
2018-10-24 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$-861M N$-1317M N$-880M N$ -1700M
2019-01-28 09:45 PM Balance of Trade N$264M N$-955M N$225M N$-400M
2019-02-26 09:45 PM Balance of Trade N$264M
2019-03-25 09:45 PM Balance of Trade
2019-04-25 10:45 PM Balance of Trade



New Zealand Trade Surplus Narrows in December

New Zealand trade surplus narrowed to NZD 264 million in December 2018 from NZD 614 million in the same month of the previous year and above market expectations of a NZD 225 million surplus. It was the first monthly surplus in seven months and the largest in a year. The annual trade deficit widened to NZD 5.9 billion, the largest since October 2007 driven by a sharp rise in fuel and crude oil imports.

Exports edged down 0.5 percent year-on-year to NZD 5.48 billion. It was the second-highest value on record for monthly total exports, the previous high was in December 2017. Sales were mainly dragged by meat & edible offal (-9.7 percent to NZD 649 million); aluminium & aluminium articles (-40.9 percent to NZD 101 million); and milk powder, butter & cheese (-0.9 percent to NZD 1860 million). In contrast, exports rose for crude oil (117.2 percent to NZD 146 million) and preparation of milk, cereals, flour & starch (54 percent to NZD 190 million). Among top trade partners, sales dropped to the US (-8.8 percent); Japan (-19.5 percent) and South Korea (-7.5 percent). On the other hand, exports to China (+14.3 percent); Australia (+14.4 percent) and the UK (+13.2 percent) increased. 


Imports rose 6.6 percent year-on-year to NZD 5.22 billion, mainly driven by higher purchases of petroleum & products (58.1 percent to NZD 684 million), namely crude oil (80 percent) and petroleum other than crude (17 percent); and aircrafts & parts (509.3 percent to NZD 180 million). Meanwhile, purchases declined for vehicles, parts & accessories (-1.3 percent to NZD 735 million); mechanical machinery & equipment (-3.7 percent to NZD 774 million); food industry residues, wastes & fodder (-47.1 percent to NZD 53 million) and fertilizers (-52.4 percent to NZD 34 million). By main destinations, imports went up from  Australia (+11.6 percent), China (+6.6 percent), the US (+5.8 percent) and the EU (+4.2 percent).

The annual trade deficit widened to NZD 5.9 billion, the largest in 11 years mainly due to sharp rise in fuel and crude oil imports (+44 percent to NZD 7.7 billion).


Statistics New Zealand | Mario | mario@tradingeconomics.com
1/29/2019 10:28:39 AM



New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade 264.39 -954.70 1157.64 -1579.92 NZD Million [+]
Current Account -6150.00 -1631.00 1411.00 -6150.00 NZD Million [+]
Current Account to GDP -2.80 -2.60 -0.10 -8.90 percent [+]
Imports 5216.95 5864.26 6133.94 37.85 NZD Million [+]
Exports 5481.35 4909.55 5508.34 19.68 NZD Million [+]
External Debt 280086.00 278453.00 280086.00 67673.00 NZD Million [+]
Terms of Trade 1444.00 1449.00 1472.00 796.00 Index Points [+]
Capital Flows -320.00 -1736.00 7646.00 -3332.00 NZD Million [+]
Foreign Direct Investment 684.00 -1510.00 3096.00 -7322.00 NZD Million [+]
Tourist Arrivals 529300.00 385789.00 529300.00 40.00 [+]
Terrorism Index 0.29 0.61 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
264.39 -954.70 1157.64 -1579.92 1951 - 2018 NZD Million Monthly




Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -55.29 Dec/18
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1787.14 Dec/18
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18


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