New Zealand trade surplus narrowed to NZD 12 million in February 2019 from NZD 188 million in the same month of the previous year and compared to market expectations of a NZD 109 million deficit. Imports rose 12.9 percent year-on-year and exports increased at a softer 8.3 percent. The twelve-month trade balance recorded a NZD 6.62 billion gap (vs a NZD 3.06 billion shortfall a year earlier). Balance of Trade in New Zealand averaged -59.31 NZD Million from 1951 until 2019, 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
2018-12-19 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$-914M N$12M N$-300M N$-120M
2019-03-25 09:45 PM Balance of Trade N$12M N$-948M N$-109M N$-100M
2019-04-25 10:45 PM Balance of Trade N$12M N$131M N$ 200M
2019-05-23 10:45 PM Balance of Trade
2019-06-24 10:45 PM Balance of Trade



New Zealand Trade Surplus Narrows in February

New Zealand trade surplus narrowed to NZD 12 million in February 2019 from NZD 188 million in the same month of the previous year and compared to market expectations of a NZD 109 million deficit. Imports rose 12.9 percent year-on-year and exports increased at a softer 8.3 percent. The twelve-month trade balance recorded a NZD 6.62 billion gap (vs a NZD 3.06 billion shortfall a year earlier).

Exports from New Zealand advanced 8.3 percent year-on-year to NZD 4.82 billion in February 2019, after rising 1.3 percent in January. Exports were mostly boosted by higher sales of milk powder, butter & cheese category, which jumped 24.3 percent to NZD 1346 million. Also, sales of logs and wood climbed 19.8 percent to NZD 472 million. On the other hand, exports of mechanical machinery and equipment decreased 6.3 percent to NZD 126 million and sales of crude oil dropped 70.8 percent to NZD 20 million. By destination, exports went up to China (32.5 percent), the EU (7.4 percent) and Australia (2.1 percent), but fell  to South Korea (-18.0 percent), the US (-3.4 percent), and Japan (-2.5 percent).

Imports rose 12.9 percent year-on-year to NZD 4.80 billion in February, after increasing 6.9 percent in the prior month. Imports were mainly driven by higher purchases of vehicles, partes & accessories (+26.6 percent to NZD 634 million); petroleum & products (+14.1 percent to NZD 514 million); and aircraft & parts (+521.1 percent to NZD 145 million). In contrast, imports dropped for fertilizers (-56.1 percent to NZD 21 million) and food residues, wastes and fodder (-29.5 percent to NZD 84 million). By country of origin, purchases increased from China (9.3 percent), Japan (100.6 percent); the EU (30.0 percent), the US (19.3 percent), and Australia (2.2 percent). Meanwhile, imports declined from Singapore (-31.4 percent), the United Arab Emirates (-17.7 percent),  and Thailand (-11.9 percent).


Statistics New Zealand | Mario | mario@tradingeconomics.com
3/26/2019 9:40:50 AM



New Zealand Trade Last Previous Highest Lowest Unit
Balance of Trade 11.70 -947.99 1157.64 -1579.92 NZD Million [+]
Current Account -3260.00 -6175.00 1411.00 -6175.00 NZD Million [+]
Current Account to GDP -2.80 -2.60 -0.10 -8.90 percent [+]
Imports 4803.93 5279.90 6133.86 37.85 NZD Million [+]
Exports 4815.63 4331.92 5508.34 19.68 NZD Million [+]
External Debt 278355.00 280086.00 280086.00 67673.00 NZD Million [+]
Terms of Trade 1403.00 1447.00 1472.00 796.00 Index Points [+]
Capital Flows 1382.00 -351.00 7646.00 -3332.00 NZD Million [+]
Foreign Direct Investment 2246.00 911.00 3096.00 -7322.00 NZD Million [+]
Tourist Arrivals 417934.00 399346.00 529255.00 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 23.00 21.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
11.70 -947.99 1157.64 -1579.92 1951 - 2019 NZD Million Monthly




Country Last Previous
Argentina 1183.00 Mar/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.71 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -2627773.00 Feb/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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