2025.09.1822:57:48UTC+00New Zealand Trade Deficit Narrows in August

In August 2025, New Zealand experienced a reduction in its trade deficit, narrowing it down to NZD 1.2 billion from NZD 2.3 billion recorded in the same month of the previous year. Export values witnessed a significant increase of 23% year-on-year, reaching NZD 5.9 billion. This growth was driven by a substantial rise in the export of fruit (57%), dairy products like milk powder, butter, and cheese (32%), meat and edible offal (30%), as well as precious metals, jewelry, and coins (92%). Conversely, the value of imports experienced a marginal decline, decreasing by 0.4% to NZD 7.1 billion. This decrease was primarily due to reduced purchases of petroleum and its products (-10%), aircraft and parts (-34%), ships, boats, and floating structures (-92%), along with food residues, wastes, and fodder (-16%). The expansion in exports was widespread, with significant increases in shipments to China (+35%), Australia (+17%), the United States (+14%), and the European Union (+52%). On the import side, there were decreases noted, particularly from the European Union (-6%), the United States (-1.3%), and South Korea (-32%).