About

Overview In 2023, New Zealand was the number 51 economy in the world in terms of GDP (current US$), the number 61 in total exports, the number 59 in total imports, the number 28 economy in terms of GDP per capita (current US$) and the number 43 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of New Zealand are Concentrated Milk ($6.28B), Butter ($2.54B), Frozen Bovine Meat ($2.45B), Sheep and Goat Meat ($2.35B), and Rough Wood ($2.19B), exporting mostly to China ($12.3B), United States ($5.42B), Australia ($5.2B), Japan ($2.62B), and South Korea ($1.37B).

In 2023, New Zealand was the world's biggest exporter of Concentrated Milk ($6.28B), Butter ($2.54B), Rough Wood ($2.19B), Casein ($1.06B), and Honey ($267M)

Imports The top imports of New Zealand are Refined Petroleum ($6.99B), Cars ($4.22B), Gas Turbines ($1.53B), Broadcasting Equipment ($1.33B), and Delivery Trucks ($1.3B), importing mostly from China ($10.2B), Australia ($5.46B), United States ($4.75B), South Korea ($3.71B), and Japan ($3.39B).

Location New Zealand borders Australia, Fiji, Tonga, and Norfolk Island by sea.

Latest Trends

Latest Trade

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The following section uses the most recent trade data from partners of New Zealand.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
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Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Concentrated Milk$6.28B
Top Destination (2023)China$12.3B

In 2023, New Zealand exported a total of $44.5B, making it the number 61 exporter in the world. During the last five reported years the exports of New Zealand have changed by $2.34B from $42.2B in 2018 to $44.5B in 2023.

The most recent exports are led by Concentrated Milk ($6.28B), Butter ($2.54B), Frozen Bovine Meat ($2.45B), Sheep and Goat Meat ($2.35B), and Rough Wood ($2.19B). The most common destination for the exports of New Zealand are China ($12.3B), United States ($5.42B), Australia ($5.2B), Japan ($2.62B), and South Korea ($1.37B).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Hong Kong$124M (+ 26.8%)
United States$89.1M (+ 1.67%)
Algeria$82.2M (+ 15.9%)
Fastest Growing Import Markets (2022 - 2023)
South Korea$448M (+ 13.8%)
Malaysia$388M (+ 23.9%)
France$109M (+ 11.6%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

New Zealand Exports Services (2019)$17.2B
New Zealand Imports Services (2019)$15.3B

In 2019, New Zealand exported $17.2B worth of services. The top services exported by New Zealand in 2019 were Personal travel ($9.69B), Transportation ($2.28B), Other business services ($1.39B), Computer and information services ($916M), and Business travel ($857M).

The top services imported by New Zealand in 2019 were Personal travel ($3.65B), Transportation ($3.32B), Other business services ($2.84B), Insurance services ($1.41B), and Computer and information services ($1.4B).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)0.48Rank 43 of 132
Economic Complexity (Technology)0.73Rank 33 of 96
Economic Complexity (Research)1.65Rank 17 of 140

Most Specialized Products by RCA Index

New Zealand has a high level of specialization in Casein (161), Sheep and Goat Meat (140), Concentrated Milk (136), Butter (119), and Rough Wood (84.3). Specialization is measured using RCA, an index that takes the ratio between New Zealand observed and expected exports in each product.

Most Complex Products by PCI

Export Opportunities by Relatedness

The top export opportunities for New Zealand according to the relatedness index, were Mate (0.23), Dried/Salted/Smoked/Brined Fish (0.21), Cocoa Beans (0.21), Other Oily Seeds (0.21), and Beer (0.2). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that New Zealand is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of New Zealand. These are products that tend to be co-exported with the products that New Zealand exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years New Zealand's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨31st to the 43rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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