20.08.202522:59:26UTC+00New Zealand’s Trade Deficit Narrows in July

In July 2025, New Zealand's trade deficit decreased to NZD 0.578 billion from the previous year's NZD 1.022 billion. This improvement was driven by a 10% increase in exports, reaching NZD 6.7 billion, thanks to higher shipments of several key products: milk powder, butter, and cheese saw a 17% rise; meat and edible offal increased by 18%; precious metals, jewelry, and coins surged by 69%; and there was a 27% growth in milk, cereal, flour, and starch preparations. On the import side, there was a 2.3% uptick, amounting to NZD 7.3 billion, which was primarily due to increases in mechanical machinery and equipment (18%), vehicles and parts (13%), aircraft and parts (a striking 246%), and electrical machinery (5.8%).

Export growth was notably diverse, with shipments to key markets such as China (7.1%), Australia (4.7%), the European Union (28%), Japan (23%), and the United States (7.7%) all registering increases. Import figures also climbed from major trade partners including China (6.9%), the European Union (22%), Australia (2.7%), the United States (24%), and South Korea (33%). This overall trade performance reflects robust global demand, which bolstered New Zealand’s key exports, while the rise in imports indicates heightened purchases of machinery, vehicles, and equipment.