Exports from New Zealand surged 7.6 percent over a year earlier to NZD 5,228 million in November 2019, after rising 3.7 percent in October, mainly by driven by higher sales of milk powder, butter, and cheese (23.7 percent to NZD 1817 million). Also, sales of meat & edible offal jumped 15.7 percent to NZD 636 million. In contrast, sales of fruit plunged 23.7 percent to NZD 66 million. Among main trade partners, exports rose to China (35.6 percent), while declined to the US (-6.3 percent), Australia (-5.2 percent) and Japan (-3.0 percent). Exports in New Zealand averaged 1415.64 NZD Million from 1951 until 2019, reaching an all time high of 5742.63 NZD Million in May of 2019 and a record low of 19.68 NZD Million in August of 1954. source: Statistics New Zealand
Exports 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 Exports in New Zealand to stand at 4900.00 in 12 months time. In the long-term, the New Zealand Exports is projected to trend around 5300.00 NZD Million in 2020, according to our econometric models.
New Zealand Exports
New Zealand’s economy is greatly dependent on international trade. It’s been based traditionally on exports from its very efficient agricultural system. The country exports mainly dairy produce, birds' eggs, natural honey, edible products of animal origin (24 percent of total exports), meat and edible meat offal (14 percent), wood and articles of wood (7 percent), fruit and nuts, peel of citrus fruit or melons (5 percent) and beverages, spirits and vinegar (4 percent). The main export partners are China (18 percent of total exports), Australia (17 percent), the US (12 percent), Japan (6 percent), the UK and South Korea (3 percent each).