Flag New Zealand

Econ Complexity (2018): 0.46, Rank 49 of 137

Product Exports (2018): $40.1B, Rank 58 of 222

Exports Per Capita (2018): $8.28k, Rank 131 of 219

Product Imports (2018): $40.9B, Rank 58 of 221

Imports Per Capita (2018): $8.45k, Rank 163 of 219

Service Exports (2018): $16.6B, Rank 18 of 88

Service Imports (2018): $13.2B, Rank 20 of 88

GDP (2018): $205B, CURRENT US$
Rank 51 of 196

GDP growth (2008 - 2018): 53.8%, CURRENT US$
Rank 77 of 196

GDP PC (2018): $41,945, CURRENT US$
Rank 24 of 196

GDP PC GROWTH (2008 - 2018): 34.1%, CURRENT US$
Rank 74 of 196

Overview: In 2018 New Zealand was the number 51 economy in the world in terms of GDP (current US$), the number 58 in total exports, the number 58 in total imports, and the number 49 most complex economy according to the Economic Complexity Index (ECI). In 2018, New Zealand exported $40.1B and imported $40.9B, resulting in a negative trade balance of -$817M. In 2018, New Zealand's exports per capita were $8.28k and its imports per capita were $8.45k.

Trade: The top exports of New Zealand are Concentrated Milk ($5.08B), Sheep and Goat Meat ($2.68B), Butter ($2.59B), Rough Wood ($2.49B), and Frozen Bovine Meat ($1.89B). The top imports of New Zealand are Cars ($3.28B), Crude Petroleum ($2.47B), Refined Petroleum ($2.15B), Delivery Trucks ($1.34B), and Broadcasting Equipment ($954M).

Destinations: New Zealand exports mostly to China ($9.75B), Australia ($6.17B), United States ($3.82B), Japan ($2.43B), and South Korea ($1.25B), and imports mostly from China ($7.42B), Australia ($5.75B), United States ($3.61B), Japan ($2.7B), and Singapore ($1.95B).

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

Product Exports

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Value
Depth

Top Export (2018): Concentrated Milk, $5.08B

Top Destination (2018): China, $9.75B

In 2018 New Zealand exported a total of $40.1B, making it the number 58 exporter in the world. During the last five reported years the exports of New Zealand have changed by -$39.6M from $40.1B in 2013 to $40.1B in 2018.

The most recent exports are led by Concentrated Milk ($5.08B), Sheep and Goat Meat ($2.68B), Butter ($2.59B), Rough Wood ($2.49B), and Frozen Bovine Meat ($1.89B). The most common destination for the exports of New Zealand are China ($9.75B), Australia ($6.17B), United States ($3.82B), Japan ($2.43B), and South Korea ($1.25B).

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Product Imports

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Value
Depth

Top Import (2018): Cars, $3.28B

Top Origin (2018): China, $7.42B

In 2018 New Zealand imported $40.9B, making it the number 58 trade destination in the world. During the last five reported years the imports of New Zealand changed by $1.97B from $38.9B in 2013 to $40.9B in 2018.

The most recent imports of New Zealand are led by Cars ($3.28B), Crude Petroleum ($2.47B), Refined Petroleum ($2.15B), Delivery Trucks ($1.34B), and Broadcasting Equipment ($954M). The most common import partners for New Zealand are China ($7.42B), Australia ($5.75B), United States ($3.61B), Japan ($2.7B), and Singapore ($1.95B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

New Zealand Exports Services (2018): $16.6B

New Zealand Imports Services (2018): $13.2B

In 2018, New Zealand exported $16.6B worth of services. The top services exported by New Zealand in 2018 were Personal travel ($10.1B), Transportation ($2.26B), Miscellaneous business, professional, and technical services ($1.37B), Business travel ($833M), and Financial services ($604M).

The top services imported by New Zealand in 2018 were Travel ($4.6B), Transportation ($3.31B), Miscellaneous business, professional, and technical services ($2.21B), Insurance services ($1.02B), and Other royalties and license fees ($551M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for New Zealand. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for New Zealand are Worn clothing and other worn articles (119%) and Articles of apparel of leather or composition leather (10%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for New Zealand are:
1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area
136: Most Favoured Nation duty rate treatement
137: New Zealand Generalized System of Preference
138: New Zealand GSP for Least Developed Countries
165: Preferential tariff for Australia
178: Preferential tariff for Canada
184: Preferential tariff for China
188: Preferential tariff for Chinese Taipei
235: Preferential tariff for Hong Kong
265: Preferential tariff for Malaysia
299: Preferential tariff for Singapore
309: Preferential tariff for Thailand
317: Preferential tariff for the republic of Korea
327: Preferential tariff for United Kingdom
370: South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA)
376: Trans-Pacific Strategic Economic Partnership (Brunei, Chile, New Zealand, and Singapore)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years New Zealand's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨27th to the 49th⁩ 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.

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Most Specialized Products by RCA Index

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New Zealand has a high level of specialization in Sheep and Goat Meat (155), Casein (138), Concentrated Milk (120), Butter (109), and Other Meat (75.9). 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

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The highest complexity exports of New Zealand according to the product complexity index (PCI) are Machine-tools for forging, die-stamping, bending metal (1.44), Electro and permanent magnets, equipment using magnets (1.29), Titanium oxides (1.21), Weighing machinery except balances sensitivity > 50 mg (1.16), and Machine-tools (metal, carbides, etc), no metal removal (1.13). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for New Zealand according to the relatedness index, are Maté (0.24), Gold (0.22), Other Oily Seeds (0.22), Crude Petroleum (0.21), and Raw Sugar (0.21). 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.

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 it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.