Imports to New Zealand declined 3.5 percent year-on-year to NZD 4.77 billion in March 2019, after increasing 12.2 percent in the prior month. Imports were mainly dragged by a 20 percent fall to NZD 516 million in purchases of petroleum and products, with petrol & diesel falling 35 percent. Also, purchases of vehicles, parts & accessories dropped 10.7 percent to NZD 717 million. In contrast, electrical machinery and equipment imports were up NZD 44 million (or 12 percent) to NZD 406 million. By country of origin, purchases were mainly dragged by a 17.0 percent decline from the United States and a 3.0 percent fall from the EU. Imports in New Zealand averaged 1657.11 NZD Million from 1960 until 2019, reaching an all time high of 6133.86 NZD Million in October of 2018 and a record low of 37.85 NZD Million in April of 1962.
Imports 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 Imports in New Zealand to stand at 4500.00 in 12 months time. In the long-term, the New Zealand Imports is projected to trend around 5400.00 NZD Million in 2020, according to our econometric models.