Exports Reach $7 Billion In May

New Zealand’s total exports were valued at $7.2 billion in the May 2024 month, according to figures released by Stats NZ today.

This is the first time that monthly exports have reached $7 billion. Trade values are not adjusted for price changes.

The previous high for monthly exports was $6.95 billion in May 2023.

“May months are typically a peak time for exports, being the height of the fruit season, and strong periods for meat, dairy, and vegetable exports,” international trade manager Alasdair Allen said.

The rise in exports ($202 million) in the May 2024 month was led by an increase in exports to the United States, up $255 million from May 2023 to $1.0 billion. This is the first time that monthly exports to the US have reached $1 billion.

The US is our second biggest export market, with an annual value of $8.8 billion for the year ending May 2024. China was the number one market for exports from New Zealand ($17.9 billion value in the same period).

Leading the rise in exports to the US was beef, up 31 percent in May 2024 from May 2023. In contrast, beef exports to China, our other main market for beef, were down 45 percent.

MonthUSAChina
Jan-1812173769857141130
Feb-1811343095368308910
Mar-1810769913960008523
Apr-1813789397858417172
May-1817517827376274279
Jun-1814764862577095942
Jul-1813128622887056786
Aug-185599677144213393
Sep-183740409443918431
Oct-183587279937330496
Nov-186628877767602269
Dec-1870473261104824491
Jan-198776275579133813
Feb-1995765717123211776
Mar-19124028614144724709
Apr-19110304637127544350
May-19139462357153596495
Jun-1991082052188282536
Jul-1972203966154077583
Aug-1942891007109882750
Sep-1929734456107416195
Oct-1927153216112612033
Nov-1940971607157326026
Dec-1993975216203570181
Jan-20111677091151111563
Feb-2015020515256318838
Mar-2015505425291272645
Apr-20122468049147836888
May-20127723446158586814
Jun-20180787433104771745
Jul-2014754810076698869
Aug-207784150163960047
Sep-205814606865458257
Oct-204883218262030082
Nov-206477322096123896
Dec-20104076526145362098
Jan-21100105082100678831
Feb-21118336904147051064
Mar-21134659041128363219
Apr-21126858007115112160
May-21127735312124187608
Jun-21146735712166669602
Jul-21156623206151229809
Aug-21102293157123020575
Sep-2170134346111134360
Oct-216539669585924117
Nov-2173055958121844012
Dec-21110265957211642165
Jan-22122995693176693581
Feb-22142571152172855638
Mar-22152822670163055808
Apr-22126466620145800920
May-22116852820198733155
Jun-22139609687213156800
Jul-2289272931240202415
Aug-2264370193232198729
Sep-2266608788147180598
Oct-2250364470114088288
Nov-2267630718147518487
Dec-22111451645156811206
Jan-23106472266142734614
Feb-23104365508142759458
Mar-23139401612165722353
Apr-23152814414149441910
May-23198960562178639284
Jun-23190719229148542607
Jul-23155270087122477053
Aug-23114843915101181992
Sep-237852811076993035
Oct-236024242667211153
Nov-23132078538123699184
Dec-23156951927148305836
Jan-24112130557105822067
Feb-24159064085129851321
Mar-24139356693122957117
Apr-2416488632298766421
May-2426124365397808183

Year ended May 2024 exports and imports to and from the US

In the year ended May 2024, total exports to the US were valued at $8.8 billion, and total imports from the US were valued at $7.3 billion.

Our top five export commodities to the US were:

  • beef ($1.7 billion)
  • wine ($789 million)
  • sheep meat ($609 million)
  • natural milk constituents ($539 million)
  • casein ($349 million).

In the year ended May 2024, the US was our main market for wine.

CountryValue
USA788956758
UK448056063
Australia368404798
EU206234152
Canada145300063
Other countries153159809

Our top five import commodities from the US were:

  • mechanical machinery and equipment ($1.96 billion)
  • aircraft and parts ($812 million)
  • optical, medical, and measuring equipment ($732 million)
  • vehicles, parts, and accessories ($562 million)
  • electrical machinery and equipment ($472 million).
MonthExportsImports
Jan-18413532914445462017
Feb-18467759175398601476
Mar-18498938871596657998
Apr-18470636928471437073
May-18567869530535196006
Jun-18554483765468371342
Jul-18492785041502557863
Aug-18368247833577010275
Sep-18341992847809892986
Oct-18391980463568159023
Nov-18493125538524527675
Dec-18439814357495107817
Jan-19420342720485739421
Feb-19423687837484907573
Mar-19569770319488402211
Apr-19553751876439522078
May-19630199320577502509
Jun-19514354490483037002
Jul-19449456212530415493
Aug-19373730538577911452
Sep-19358241323587242739
Oct-19401798312626948382
Nov-19460370599618740300
Dec-19466323979516732551
Jan-20483915101477497463
Feb-20543769135501237880
Mar-20609917397575236928
Apr-20569261008397541808
May-20538186729400736573
Jun-20590225810370940973
Jul-20646736495453525866
Aug-20633613006447732371
Sep-20462250150454011074
Oct-20479182028467533479
Nov-20513695979460562322
Dec-20557221526477223505
Jan-21406484537394411847
Feb-21499818272357643027
Mar-21547414495500308823
Apr-21577088905466870048
May-21602822848533436118
Jun-21601703393524775077
Jul-21629321431517844887
Aug-21558635879510729070
Sep-21575382211444082214
Oct-21533485776526804346
Nov-21544613086655734673
Dec-21617233338557903471
Jan-22544194474509013360
Feb-22504125127462405115
Mar-22762502243657488629
Apr-22628699004599719829
May-22706005635501969464
Jun-22696626200689067899
Jul-22644113731691959699
Aug-22641312060668394160
Sep-22635677052572165827
Oct-22618678188725732538
Nov-22610208875639587184
Dec-22825576326971871500
Jan-23551356074544855906
Feb-23580647257565181485
Mar-23769988296863340841
Apr-23722131212645276522
May-23767870496906262534
Jun-23765104699586103980
Jul-23735872715857413538
Aug-23699183032630788968
Sep-23588202172642020506
Oct-23617749970577070486
Nov-23708742102572464627
Dec-23763094757544877285
Jan-24500264115511773320
Feb-24847211867449123416
Mar-24808735273502178033
Apr-24722333884490246345
May-241022994511920584714

/Stats NZ Public Release. View in full here.