Overseas Merchandise Trade 24 June

Overseas merchandise trade statistics provide information on imports and exports of merchandise goods between New Zealand and other countries.

Key facts

This release refers to trade in goods only.

In May 2024, compared with May 2023:

  • goods exports rose by $202 million (2.9 percent), to $7.2 billion
  • goods imports rose by $39 million (0.6 percent), to $7.0 billion
  • the monthly trade balance was a surplus of $204 million.
YearExportsImports
200433784838132701429236
200529436966203018190787
200636393207793754835795
200733499906993342019037
200837412675983910745226
200939624787023056406500
201041970234823427496613
201146181740104067974526
201244305361414175842951
201340752872304035459225
201445738218334309478840
201543541462293986975707
201645577654924214686649
201749060889634844068801
201853499602455150672241
201957426331065567705408
202053347818834112079196
202157945625935389626468
202268056543316657391295
202369537290106912113020
202471556086796951395346

Diagram showing goods exports and imports, May 2024 month compared with May 2023 month. Text alternative available below diagram.

Text alternative for Goods exports and imports, May 2024 month compared with May 2023 month

Exports

Goods exports rose by $202 million (2.9 percent) in May 2024 (to $7.2 billion), compared with May 2023.

Wine leads exports rise

Wine rose $47 million (38 percent) to $173 million.

YearValue
201497039158
2015121006973
2016119669785
2017120567603
2018121826153
2019151751876
2020137802896
2021130131057
2022123051013
2023125516776
2024172952687

Milk powder, butter, and cheese rose $7.0 million (0.4 percent), to $1.95 billion.

Changes in exports of milk powder, butter, and cheese, May 2023 to May 2024

May 2024
value
($ million)

Change in
value
($ million)

Change in
value

Change in
quantity

Change in
unit price

Milk powder, butter,
and cheese

1,950

7.0

0.4%

*

*

Milk powder

949

-53

-5.2%

-7.9%

2.9%

Milk fats (including butter)

420

17

4.1%

-15%

23%

Cheese

276

-15

-5.0%

3.3%

-8.1%

Fresh milk and cream

142

3.9

2.8%

*

*

* Changes in total quantity are omitted due to differences in units of measure.

Other dairy-based products, including infant formula and casein, rose in this period.

May 2024
value
($ million)

Change in
value
($ million)

Change in
value

Change in
quantity

Change in
unit price

Infant formula

202

48

31%

49%

-12%

Casein

162

0.6

0.4%

38%

-27%

Infant formula is included in preparations of milk, cereals, flour, and starch, which rose $37 million (16 percent) to $263 million.

Top monthly export movements by country

The monthly movements in May 2024, compared with May 2023, for our top export partners (in order of total annual goods exports) were:

  • China: total exports were down $231 million (12 percent).
    • The largest rise was preparations of milk, cereals, flour, and starch, up $31 million.
    • The largest falls were meat and edible offal, down $166 million; fruit, down $34 million; and logs, wood, and wood articles, down $33 million.
  • Australia: total exports were down $28 million (3.8 percent).
    • The largest rises were precious metals, jewellery, and coins, up $21 million, and wine, up $11 million.
    • The largest falls were mechanical machinery and equipment, down $14 million, and milk powder, butter, and cheese, down $13 million.
  • USA: total exports were up $255 million (33 percent).
    • The largest rises were meat and edible offal, up $81 million; milk powder, butter, and cheese, up $38 million; and wine, up $24 million.
    • There were no significant falls over $10 million.
  • EU: total exports were up $14 million (2.8 percent).
    • The largest rises were fruit, up $22 million, and meat and edible offal, up $14 million.
    • There were no significant falls over $10 million.
  • Japan: total exports were up $55 million (12 percent).
    • The largest rises were meat and edible offal, up $35 million, and aluminium and aluminium articles, up $14 million.
    • The largest fall was fruit, down $17 million.

Imports

Goods imports rose by $39 million (0.6 percent) in May 2024 (to $7.0 billion), compared with May 2023.

Petroleum and products leads the rise in imports

Petroleum and products rose $223 million (28 percent) to $1.0 billion.

May 2024
value
($ million)

Change in
value
($ million)

Change in
value

Change in
quantity

Change in
unit price

Petroleum
and products

1,012

223

28%

*

*

Diesel

382

6.9

1.9%

1.1%

0.7%

Petrol

272

11

4.3%

*

*

Jet fuel

258

145

129%

117%

5.4%

* Changes in total quantity are omitted due to differences in units of measure.

Vehicles, parts, and accessories fell $154 million (16 percent) to $824 million. This was led by passenger cars that fell $115 million (19 percent) to $474 million, which was in turn led by electric passenger cars that fell $102 million (72 percent) to $39 million.

MonthValue
Jan-193887929
Feb-1912683235
Mar-192301114
Apr-194059726
May-1913800264
Jun-198152129
Jul-197812598
Aug-1928427348
Sep-1932818144
Oct-1910004120
Nov-1922738472
Dec-1911132092
Jan-204659656
Feb-207013269
Mar-207720225
Apr-201667824
May-201747259
Jun-205053372
Jul-202411360
Aug-2012845906
Sep-2010141752
Oct-206798508
Nov-205244741
Dec-207165682
Jan-216734577
Feb-2112414874
Mar-2122796655
Apr-2111926582
May-2145102646
Jun-2124568944
Jul-2134183679
Aug-2142533316
Sep-2147612763
Oct-2123429238
Nov-2164422275
Dec-2133166767
Jan-2242276424
Feb-2263152018
Mar-2233849932
Apr-2222971855
May-2233275686
Jun-2231565574
Jul-22141351036
Aug-2252822239
Sep-22130387233
Oct-22126835869
Nov-22212642648
Dec-2247096047
Jan-2365701798
Feb-23133340538
Mar-2398608148
Apr-2366307400
May-23141208037
Jun-2348511994
Jul-23131694597
Aug-2396106685
Sep-23128992055
Oct-2389918558
Nov-2383679246
Dec-2353200280
Jan-2448741830
Feb-2430072351
Mar-2427341065
Apr-2419145535
May-2439225315

Top monthly import movements by country

The monthly movements in May 2024, compared with May 2023, for our top import partners (in order of total annual goods imports) were:

  • China: total imports were up $36 million (2.6 percent).
    • The largest rises were petroleum and products, up $58 million; mechanical machinery and equipment, up $14 million; and plastic and plastic articles, up $14 million.
    • The largest falls were vehicles, parts, and accessories, down $70 million; electrical machinery and equipment, down $28 million; and iron and steel, and articles, down $11 million.
  • EU: total imports were down $18 million (1.8 percent).
    • The largest rise was vehicles, parts, and accessories, up $33 million.
    • The largest falls were pharmaceutical products, down $20 million, and mechanical machinery and equipment, down $16 million.
  • Australia: total imports were down $38 million (4.7 percent).
    • The largest rises were inorganic chemicals, up $22 million, and cereals, up $21 million.
    • The largest falls were vehicles, parts, and accessories, down $30 million, and ships, boats, and floating structures, down $13 million.
  • USA: total imports were up $14 million (1.6 percent).
    • The largest rises were food residues, wastes, and fodder, up $41 million; vehicles, parts, and accessories, up $16 million; and mechanical machinery and equipment, up $13 million.
    • The largest falls were aircraft and parts, down $28 million, and electrical machinery and equipment, down $15 million.
  • South Korea: total imports were up $31 million (5.8 percent).
    • The largest rise was petroleum and products, up $65 million.
    • The largest fall was vehicles, parts, and accessories, down $22 million.

Trade surplus in May 2024

The monthly trade balance was a surplus of $204 million.

MonthTrade balance
May-15367170522
Jun-15-181952163
Jul-15-730443957
Aug-15-1090170040
Sep-15-1140014218
Oct-15-904822585
Nov-15-795426228
Dec-15-41905853
Jan-1612320231
Feb-16366925311
Mar-16188849850
Apr-16349530073
May-16343078843
Jun-16106790388
Jul-16-351427805
Aug-16-1239891851
Sep-16-1387987389
Oct-16-797651150
Nov-16-723201112
Dec-16-1435171
Jan-17-226543047
Feb-17-42276469
Mar-17261589138
Apr-17546879922
May-1762020162
Jun-17243117487
Jul-1792027349
Aug-17-1174342582
Sep-17-1165209854
Oct-17-839633458
Nov-17-1222417301
Dec-17614310559
Jan-18-662421494
Feb-18188256546
Mar-18-150609406
Apr-18199745211
May-18199288004
Jun-18-285260079
Jul-18-203110333
Aug-18-1566757996
Sep-18-1579921712
Oct-18-1305105133
Nov-18-1003973060
Dec-189286883
Jan-19-934926531
Feb-19-93584137
Mar-19825181314
Apr-19360963002
May-19174927698
Jun-19329812747
Jul-19-732335397
Aug-19-1641634097
Sep-19-1309937148
Oct-19-1038380593
Nov-19-786493088
Dec-19379772255
Jan-20-395635011
Feb-20550639307
Mar-20522807892
Apr-201374019783
May-201222702687
Jun-20416538602
Jul-20387761796
Aug-20-320606284
Sep-20-1132334429
Oct-20-465913506
Nov-20679104
Dec-20230069561
Jan-21-729765438
Feb-21449847010
Mar-21-182555509
Apr-21557914991
May-21404936125
Jun-21442108253
Jul-21-387158502
Aug-21-2132508281
Sep-21-2166033786
Oct-21-1282573004
Nov-21-1085761728
Dec-21-990246456
Jan-22-1106744295
Feb-22-714801157
Mar-22-593488596
Apr-22469495559.5
May-22148263036
Jun-22-1132868318
Jul-22-1415192071
Aug-22-2634137110
Sep-22-2519671472
Oct-22-2315527621
Nov-22-2183787239
Dec-22-650530508
Jan-23-2095237898
Feb-23-846757630
Mar-23-1602490156
Apr-23220854073
May-2341615990.2
Jun-23-114738381
Jul-23-1174149043
Aug-23-2266681329
Sep-23-2420838856
Oct-23-1732504563
Nov-23-1258971689
Dec-23-372771305
Jan-24-1064170538
Feb-24-319013198.7
Mar-24468222533.5
Apr-24-3047463.78
May-24204213333.2

May 2024 year

Annual values are actual and compared with the year ended May 2023.

  • Annual goods exports were valued at $68.9 billion, down $3.8 billion from the previous year.
  • Annual goods imports were valued at $78.9 billion, down $10.9 billion from the previous year.
  • The annual trade deficit was $10.1 billion. In the year ended May 2023 the trade deficit was $17.1 billion.
YearTrade balance
May-141319568933
Jun-141188788452
Jul-141034361247
Aug-141805429958
Sep-14667403260.8
Oct-14-55529708.2
Nov-14-491585024.2
Dec-14-1183419240
Jan-15-1416085181
Feb-15-2129195222
Mar-15-2372062053
Apr-15-2655363178
May-15-2552535649
Jun-15-2974536000
Jul-15-2762446249
Aug-15-3388079713
Sep-15-3169130897
Oct-15-3182409618
Nov-15-3694857477
Dec-15-3536562994
Jan-16-3576399416
Feb-16-3293445747
Mar-16-3765397257
Apr-16-3599939057
May-16-3624030736
Jun-16-3335288185
Jul-16-2956272033
Aug-16-3105993844
Sep-16-3353967015
Oct-16-3246795580
Nov-16-3174570464
Dec-16-3134099782
Jan-17-3372963060
Feb-17-3782164840
Mar-17-3709425552
Apr-17-3512075703
May-17-3793134384
Jun-17-3656807285
Jul-17-3213352131
Aug-17-3147802862
Sep-17-2925025327
Oct-17-2967007635
Nov-17-3466223824
Dec-17-2850478094
Jan-18-3286356541
Feb-18-3055823526
Mar-18-3468022070
Apr-18-3815156781
May-18-3677888939
Jun-18-4206266505
Jul-18-4501404187
Aug-18-4893819601
Sep-18-5308531459
Oct-18-5774003134
Nov-18-5555558893
Dec-18-6160582569
Jan-19-6433087606
Feb-19-6714928289
Mar-19-5739137569
Apr-19-5577919778
May-19-5602280084
Jun-19-4987207258
Jul-19-5516432322
Aug-19-5591308423
Sep-19-5321323859
Oct-19-5054599319
Nov-19-4837119347
Dec-19-4466633975
Jan-20-3927342455
Feb-20-3283119011
Mar-20-3585492433
Apr-20-2572435652
May-20-1524660663
Jun-20-1437934808
Jul-20-317837615
Aug-201003190198
Sep-201180792917
Oct-201753260004
Nov-202540432196
Dec-202390729502
Jan-212056599075
Feb-211955806778
Mar-211250443377
Apr-21434338585
May-21-383427977
Jun-21-357858326
Jul-21-1132778624
Aug-21-2944680621
Sep-21-3978379978
Oct-21-4795039476
Nov-21-5881480308
Dec-21-7101796325
Jan-22-7478775182
Feb-22-8643423349
Mar-22-9054356436
Apr-22-9142775867
May-22-9399448956
Jun-22-10974425528
Jul-22-12002459097
Aug-22-12504087926
Sep-22-12857725612
Oct-22-13890680229
Nov-22-14988705740
Dec-22-14648989792
Jan-23-15637483395
Feb-23-15769439868
Mar-23-16778441428
Apr-23-17027082914
May-23-17133729960
Jun-23-16115600023
Jul-23-15874556995
Aug-23-15507101214
Sep-23-15408268598
Oct-23-14825245540
Nov-23-13900429990
Dec-23-13622670787
Jan-24-12591603427
Feb-24-12063858996
Mar-24-9993146306
Apr-24-10217047843
May-24-10054450500
YearExportsImports
May-145098999281549670423882
Jun-145116113642549972347973
Jul-145101755673049983195483
Aug-145125440192749448971969
Sep-145105341639750386013136
Oct-145082332936050878859068
Nov-145042169579750913280821
Dec-145007464125051258060490
Jan-154968728773051103372911
Feb-154904288622551172081447
Mar-154891514395151287206004
Apr-154864273303551298096213
May-154842305743150975593080
Jun-154839616318151370699181
Jul-154888045300551642899254
Aug-154905745549552445535208
Sep-154911798719952287118096
Oct-154891894718752101356805
Nov-154895271987552647577352
Dec-154897355077652510113770
Jan-164918746608552763865501
Feb-164953761256752831058314
Mar-164883324376352598641020
Apr-164902653618352626475240
May-164923015544652854186182
Jun-164932486424352660152428
Jul-164912160822052077880253
Aug-164879389378651899887630
Sep-164858360424151937571256
Oct-164869630060251943096182
Nov-164849385623451668426698
Dec-164848690407851621003860
Jan-174852768885351900651913
Feb-174830501195452087176794
Mar-174869407673952403502291
Apr-174907614883052588224533
May-174942447230153217606685
Jun-174987349150853530298793
Jul-175052877312753742125258
Aug-175083440132853982204190
Sep-175116004392954085069256
Oct-175179167204154758679676
Nov-175253285958855999083412
Dec-175362548816156475966255
Jan-185396518442057251540961
Feb-185439535568257451179208
Mar-185460296605158070988121
Apr-185486020515158675361932
May-185530407643358981965372
Jun-185549019291659696459421
Jul-185620620158760707605774
Aug-185649333602261387155623
Sep-185695404426162262575720
Oct-185722655863763000561771
Nov-185747059903763026157930
Dec-185725110426563411686834
Jan-195732034120763753428813
Feb-195758393730264298865591
Mar-195838624176464125379333
Apr-195890092429664478844074
May-195929359715764895877241
Jun-195937841255164365619809
Jul-195896330825764479740579
Aug-195905031814164641626564
Sep-195915333144664474655305
Oct-195933056286364385162182
Nov-195968970516364526824510
Dec-195989923628164365870256
Jan-206023243077264159773227
Feb-206041260475163695723762
Mar-206042464372864010136161
Apr-206026788108562840316737
May-205986002986261384690525
Jun-205992337134961361306157
Jul-205995885212760276689742
Aug-206026741595059264225752
Sep-205981182450558631031588
Oct-205960851926657855259262
Nov-205931067009456770237898
Dec-205935209026856961360766
Jan-215879115873256734559657
Feb-215864892303956693116261
Mar-215850900752957258564152
Apr-215872798391258293645327
May-215918776462259571192599
Jun-216031706434560674922671
Jul-216113773122762270509851
Aug-216113037763264075058253
Sep-216162643740465604817382
Oct-216220330184066998341316
Nov-216295714484668838625154
Dec-216349417202370595968348
Jan-226417933642071658111602
Feb-226462330941473266732763
Mar-226562008636474674442800
Apr-226623853281175381308679
May-226724962454976649073506
Jun-226732045169678294877224
Jul-226788091137279883370469
Aug-226879976232381303850249
Sep-227031391997383171645585
Oct-227088687231484777552543
Nov-227154422991986532935659
Dec-227197061182186619601613
Jan-237247680867288114292067
Feb-237235302989888122469766
Mar-237214163025888920071686
Apr-237256948305289596565966
May-237271755773189851287691
Jun-237267201143188787611454
Jul-237171151298787586069982
Aug-237140287899286909980206
Sep-237025840995585666678553
Oct-236967233756584497583105
Nov-236928062030183181050291
Dec-236862096213382243632920
Jan-246813646501380728068440
Feb-246885466918180918528177
Mar-246896764688078960793186
Apr-246869007192478907119767
May-246889195159378946402093

Text alternative for Goods exports and imports, May 2024 month compared with May 2023 month

The diagram shows goods exports and imports for the May 2024 month compared with the May 2023 month.

The trade balance is a surplus of $204 million. This is the difference between exports valued at $7.2 billion (up $202 million or 2.9 percent) and imports valued at $7.0 billion (up $39 million or 0.6 percent).

Export commodities that rose included: wine, up $47 million (38 percent); preparations of milk, cereals, flour, and starch*, up $37 million (16 percent); precious metals, jewellery, and coins, up $28 million (39 percent); and optical, medical, and measuring equipment, up $26 million (29 percent).

Export commodities that fell included: vehicles, parts, and accessories, down $22 million (34 percent); other animal originated products, down $15 million (23 percent); and crude oil**, down $13 million (19 percent).

Import commodities that rose included: petroleum and products**, up $223 million (28 percent); food residues, wastes, and fodder, up $43 million (42 percent); cereals, up $24 million (47 percent); and sugars and sugar confectionery, up $24 million (62 percent).

Import commodities that fell included: vehicles, parts, and accessories, down $154 million (16 percent); electrical machinery and equipment, down $68 million (11 percent); mechanical machinery and equipment, down $46 million (4.4 percent); and iron and steel, and articles, down $33 million (20 percent).

*Includes infant formula.
**Imports of petroleum and products fluctuate month to month based on individual large movements.

Source: Stats NZ

More data

Use Infoshare to access time-series data for imports and exports.

Subject category: Imports and exports

Overseas merchandise trade datasets has CSV data for goods imports and exports.

International trade: March 2024 quarter has information on trade in goods and services.

Definitions and metadata

Overseas merchandise trade – DataInfo+ provides the definitions of terms used in this release and general methodology used to produce overseas merchandise trade statistics.

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Next release

Overseas merchandise trade: June 2024 will be released on 22 July 2024.

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