New Zealand's trade surplus widened sharply to NZD 1267 million in April of 2020 from NZD 361 million in the same month of the previous year. It was the largest trade surplus on record, as imports plunge 22 percent over a year earlier to NZD 4.0 billion, the second sharpest fall since the series began in 1960, amid the COVID-19 level 4 lockdown. The largest contributor to the fall in imports was petroleum & products (-58 percent), in particular crude oil (-77 percent). Exports dropped 4 percent to NZD 5.3 billion, mainly due to log as operations were suspended during the month.
Balance of Trade in New Zealand averaged -60 NZD Million from 1951 until 2020, reaching an all time high of 1267.31 NZD Million in April of 2020 and a record low of -1641.63 NZD Million in August of 2019. 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 May of 2020. source: Statistics New Zealand
Balance of Trade in New Zealand is expected to be -600.00 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 200.00 in 12 months time. In the long-term, the New Zealand Balance of Trade is projected to trend around -300.00 NZD Million in 2021 and 200.00 NZD Million in 2022, according to our econometric models.