New Zealand posted a NZD 1560 million trade deficit in September 2018, compared with a NZD 1165 million gap in the same month of the previous year and with market expectations of a NZD 1365 million shortfall. It was the widest monthly trade deficit on record, as imports jumped 18.8 percent year-on-year to an all-time high of NZD 5888 million and exports rose at a softer 14.1 percent to NZD 4328 million. Balance of Trade in New Zealand averaged -55.54 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 -1559.87 NZD Million in September of 2018.

New Zealand Balance of Trade
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New Zealand Post Largest Trade Deficit on Record


New Zealand posted a NZD 1560 million trade deficit in September 2018, compared with a NZD 1165 million gap in the same month of the previous year and with market expectations of a NZD 1365 million shortfall. It was the widest monthly trade deficit on record, as imports hit an all-time high on soaring petroleum products purchases affected by higher oil prices. Meantime, stronger fruits exports partly offset a 4.1 percent drop in milk, butter & cheese sales.

Imports jumped 18.8 percent year-on-year to a record high of NZD 5.89 billion from NZD 4.96 billion in the same month a year earlier. Among main categories, imports were mainly driven by petroleum and petroleum products (+86.6 percent), namely crude oil and fuels; electrical machinery and equipment (+16.1 percent); aircrafts & parts (+448.9 percent) and fertilizers (+83.7 percent). In contrast, mechanical machinery and equipment purchases declined 2.9 percent. Among top import partners, purchases were mainly driven by China (13.7 percent), Australia (10 percent), the US (71.7 percent), and Japan (7.5 percent). Meanwhile, imports declined from Korea (-9.6 percent), the EU (-0.6 percent), namely France (-16.4 percent) and the UK (-8.2 percent).

Exports went up 14.1 percent year-on-year to NZD 4.33 billion from NZD 3.79 billion in the same month of the previous year. Among main categories, sales were triggered by fruits (+117.8 percent), mostly kiwifruit; meat and edible offal (+19.8 percent) and logs, wood & wood articles (+19.1 percent). Oil exports (+30.0 percent); iron & steel (+49.9 percent) and wood pulp & paper (+20.0 percent) also increased well above average. In contrast, milk, butter & cheese declined 4.1 percent. Among major export partners, sales grew to China (8.4 percent), Australia (14.7 percent), the US (8.5 percent), Japan (25.6 percent), Korea (54.1 percent), the UK (29.8 percent) and Singapore (109.7 percent). In contrast, shipments went down mostly to Malaysia (-5.5 percent) and the UAE (-8.4 percent).



Mario | mario@tradingeconomics.com
10/25/2018 1:22:20 PM



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$-1560M N$ -700M
2018-12-19 09:45 PM Balance of Trade N$ -1100M


New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade -1559.87 -1470.24 1157.64 -1559.87 NZD Million [+]
Exports 4327.71 3972.25 5508.34 19.68 NZD Million [+]
Imports 5887.57 5442.49 5887.57 37.85 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 [+]
External Debt 278453.00 273275.00 278453.00 67673.00 NZD Million [+]
Terms of Trade 1452.00 1443.00 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 258155.00 246682.00 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 25.00 22.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-1559.87 -1470.24 1157.64 -1559.87 1951 - 2018 NZD Million Monthly




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 13141.70 Sep/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -194.00 Sep/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 1447.00 Sep/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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