Nova Zelanda: Visió econòmica i política
Foreign trade is an essential element of New Zealand's economy, which is one of the most open economies in the world. Trade represented 49% of GDP in 2021 (World Bank, 2023). In 2022, the main export goods of the country were milk and dairy products (25.5% of all exports), meat (6%), wood (4.9%), fruits (3.7%), while the main imported commodities include Petroleum oils and oils obtained from bituminous (9.6%), Motor cars and other motor vehicles principally (7.8%), Telephone sets, incl. telephones for cellular (2.5%), Motor vehicles for the transport of goods (2.5%) and Automatic data-processing machines and units (2.0%).
New Zealand's biggest partners are China (28.2% of all exports in 2022), Australia (12%), the United States (10.9%), Japan, and South Korea. China was also the main supplier of goods and services of the country (23.2% of all imports in 2022), with Australia (11.1%), the United States (9%) and Japan (6.2%).The country is a founding member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). A Regional Comprehensive Economic Partnership (RCEP) - the world’s largest trade agreement - was also signed in 2020 which includes 7 of New Zealand top 10 trading partners and 16 countries in total: Australia, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand and Vietnam, and could eventually replace the CPTPP. Additionally, the government is currently seeking trade deals with the EU and the UK.
Exports in New Zealand rose 13% year-on-year to a record high of 6.1 billion NZD in December 2021, boosted by sales of dairy products (Statistics New Zealand, 2022). In 2021, merchandise exports increased from 38.91 billion USD in 2020 to 44.75 billion USD, and imports increased from 37.15 billion USD in 2020 to 49.85 billion USD. The trade balance (including services) went from a positive territory in 2020 (+2.44 billion USD) to a deficit of 8.08 billion USD in 2021.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 40,125 | 43,793 | 42,363 | 37,152 | 49,855 |
Exports of Goods (million USD) | 38,075 | 39,673 | 39,517 | 38,919 | 44,758 |
Imports of Services (million USD) | 12,804 | 14,820 | 15,503 | 11,100 | 13,356 |
Exports of Services (million USD) | 15,997 | 17,527 | 17,236 | 11,580 | 9,378 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 54.2 | 55.8 | 54.3 | 44.2 | 49.1 |
Trade Balance (million USD) | -1,503 | -3,523 | -2,437 | 1,850 | -4,278 |
Trade Balance (Including Service) (million USD) | 2,200 | -163 | 193 | 2,440 | -8,085 |
Imports of Goods and Services (Annual % Change) | 7.2 | 3.9 | 1.0 | -15.9 | 17.3 |
Exports of Goods and Services (Annual % Change) | 3.6 | 2.8 | -0.2 | -17.6 | 1.4 |
Imports of Goods and Services (in % of GDP) | 26.6 | 27.9 | 27.0 | 22.3 | 26.6 |
Exports of Goods and Services (in % of GDP) | 27.6 | 27.9 | 27.3 | 21.9 | 22.5 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -0.7 | 9.9 | 9.8 | 7.5 | 4.6 |
Volume of imports of goods and services (Annual % change) | 4.5 | 4.8 | 0.2 | 5.5 | 3.3 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
China | 28.2% |
Australia | 12.0% |
United States | 10.9% |
Japan | 5.8% |
South Korea | 3.7% |
Indonesia | 2.9% |
Singapore | 2.4% |
United Kingdom | 2.0% |
Thailand | 1.9% |
Malaysia | 1.9% |
Netherlands | 1.5% |
Hong Kong SAR, China | 1.5% |
Vietnam | 1.4% |
Saudi Arabia | 1.3% |
United Arab Emirates | 1.3% |
Philippines (the) | 1.3% |
Canada | 1.2% |
Algeria | 1.2% |
Germany | 1.2% |
Bangladesh | 0.8% |
See More Countries | 39.5% |
Main Suppliers (% of Imports) |
2022 |
China | 23.2% |
Australia | 11.1% |
United States | 9.0% |
Japan | 6.2% |
South Korea | 6.1% |
Singapore | 4.8% |
Germany | 4.1% |
Thailand | 3.9% |
Malaysia | 3.1% |
United Kingdom | 2.3% |
Italy | 2.2% |
Indonesia | 2.1% |
Vietnam | 1.8% |
France | 1.7% |
India | 1.5% |
Canada | 1.2% |
United Arab Emirates | 1.0% |
Netherlands | 0.9% |
Spain | 0.8% |
Mexico | 0.7% |
See More Countries | 44.2% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
17.2 bn USD of services exported in 2019 | |
61.46% | |
Personal travelPersonal travel | 56.46% |
Business travelBusiness travel | 4.99% |
13.30% | |
8.10% | |
5.34% | |
4.78% | |
3.08% | |
2.65% | |
1.05% | |
0.24% |
15.3 bn USD of services imported in 2019 | |
28.79% | |
Personal travelPersonal travel | 23.86% |
Business travelBusiness travel | 4.92% |
21.65% | |
18.55% | |
9.18% | |
9.11% | |
6.12% | |
3.33% | |
2.07% | |
1.01% | |
0.21% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: June 2023
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