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 44.3% of GDP in 2020. In 2021, the main export goods of the country were milk and dairy products (27% of all exports), meat (14%), wood (7.5%), fruits (6.6%), while the main imported commodities include Machinery and boilers (14%), cars and other vehicles other than railway and tramway (11%), Electrical and electronic equipment (9.3%) and mineral fuels, oils, distillation products (8.5%).
New Zealand's biggest partners are China (29% of all exports in 2020), Australia (14%), the United States (12%), Japan, and South Korea. China was also the main supplier of goods and services of the country (23% of all imports in 2020).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 2020, merchandise exports slightly decreased at USD 38.91 billion, and imports decreased from 42.3 billion USD in 2019 to 37.15 billion USD. The trade balance (excluding services) reached + 2 billion USD from a deficit of 2.41 billion USD in 2019.
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) | -0.0 | 11.4 | 4.3 | 5.2 | 4.2 |
Volume of imports of goods and services (Annual % change) | 1.0 | 3.6 | 8.2 | 8.3 | 4.5 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
China | 31.1% |
Australia | 12.8% |
United States | 10.8% |
Japan | 5.5% |
South Korea | 3.1% |
United Kingdom | 2.3% |
Indonesia | 2.1% |
Singapore | 2.0% |
Hong Kong SAR, China | 1.9% |
Thailand | 1.7% |
Malaysia | 1.7% |
Vietnam | 1.3% |
Germany | 1.3% |
United Arab Emirates | 1.3% |
Netherlands | 1.2% |
Canada | 1.2% |
Philippines (the) | 1.1% |
Saudi Arabia | 1.1% |
India | 0.7% |
France | 0.7% |
See More Countries | 36.7% |
Main Suppliers (% of Imports) |
2021 |
China | 23.7% |
Australia | 11.3% |
United States | 8.5% |
Japan | 6.4% |
Germany | 4.8% |
Thailand | 4.6% |
South Korea | 4.5% |
United Arab Emirates | 3.6% |
Malaysia | 2.6% |
Singapore | 2.4% |
United Kingdom | 2.3% |
Italy | 2.2% |
Indonesia | 2.0% |
France | 1.9% |
Vietnam | 1.8% |
India | 1.4% |
Belgium | 1.1% |
Canada | 1.0% |
Netherlands | 0.9% |
Mexico | 0.7% |
See More Countries | 45.1% |
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: January 2023
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