New Zealand recorded a trade deficit of NZD 701 million in June of 2022, switching from a USD 245 million surplus in the corresponding month of 2021. Exports rose 7.7 percent to NZD 6.4 billion amid higher sales of meat and edible offal (19 percent) and milk powder, butter, and cheese (7.1 percent). Among major trading partners, shipments increased to the US (22 percent), the EU (28 percent), and Japan (24 percent), while they fell to China (6 percent). Meantime, imports went up 25 percent to a record NZD 7.1 billion due to higher purchases of petroleum and products (206 percent) and mechanical machinery and equipment (16 percent). Imports increased mainly from China (12 percent) and the EU (11 percent). source: Statistics New Zealand
Balance of Trade in New Zealand averaged -68.56 NZD Million from 1951 until 2022, reaching an all time high of 1350.34 NZD Million in April of 2020 and a record low of -2166.03 NZD Million in September of 2021. 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 August of 2022.
Balance of Trade in New Zealand is expected to be -94.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Balance of Trade is projected to trend around 335.00 NZD Million in 2023, according to our econometric models.