New Zealand2020 Economic Complexity : 0.45, Rank 46 of 127
2020 Product Exports | Imports: $39.6B | $35.3B, 54 of 226 | 57 of 226
2020 Per Capita Product Exports | Imports: $7.78k | $6.93k, 26 of 219 | 64 of 219
2019 Service Exports | Imports : $17.2B | $15.3B, 42 of 108 | 42 of 108
Overview In 2020, New Zealand was the number 49 economy in the world in terms of GDP (current US$), the number 54 in total exports, the number 57 in total imports, the number 26 economy in terms of GDP per capita (current US$) and the number 46 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of New Zealand are Concentrated Milk ($5.92B), Sheep and Goat Meat ($2.57B), Frozen Bovine Meat ($2.1B), Rough Wood ($2.05B), and Butter ($1.89B), exporting mostly to China ($10.9B), Australia ($5.17B), United States ($4.35B), Japan ($2.34B), and South Korea ($1.12B).
In 2020, New Zealand was the world's biggest exporter of Concentrated Milk ($5.92B), Rough Wood ($2.05B), Butter ($1.89B), Casein ($685M), and Honey ($328M)
Imports The top imports of New Zealand are Cars ($2.37B), Crude Petroleum ($1.4B), Refined Petroleum ($1.34B), Broadcasting Equipment ($1.19B), and Delivery Trucks ($762M), importing mostly from China ($7.52B), Australia ($5.58B), United States ($2.93B), Japan ($1.87B), and South Korea ($1.64B).
Location New Zealand borders Australia, Fiji, Tonga, and Norfolk Island by sea.
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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Concentrated Milk, $5.92B
Top Destination (2020): China, $7.52B
In 2020, New Zealand exported a total of $39.6B, making it the number 54 exporter in the world. During the last five reported years the exports of New Zealand have changed by $4.1B from $35.5B in 2015 to $39.6B in 2020.
The most recent exports are led by Concentrated Milk ($5.92B), Sheep and Goat Meat ($2.57B), Frozen Bovine Meat ($2.1B), Rough Wood ($2.05B), and Butter ($1.89B). The most common destination for the exports of New Zealand are China ($10.9B), Australia ($5.17B), United States ($4.35B), Japan ($2.34B), and South Korea ($1.12B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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).
New Zealand has a high level of specialization in Sheep and Goat Meat (146), Casein (123), Concentrated Milk (117), Butter (93.7), and Other Meat (74.8). Specialization is measured using RCA, an index that takes the ratio between New Zealand observed and expected exports in each product.
The highest complexity exports of New Zealand according to the product complexity index (PCI) are Forging Machines (1.47), Electromagnets (1.14), Newsprint (1.09), Magnesium (0.98), and Chemically Pure Sugars (0.96). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for New Zealand according to the relatedness index, are Gold (0.21), Maté (0.21), Manganese Ore (0.21), Raw Sugar (0.2), and Other Processed Fruits and Nuts (0.19). 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 a country currently specializes in.
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.
During the last 20 years New Zealand's economy has become relatively less complex, moving from the 20th to the 46th 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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