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From a continental perspective, over half (55.3%) of New Zealand’s exports by value were delivered to Asian countries while 16.9% are sold to fellow Oceanian importers led by Australia. New Zealand shipped another 11.5% worth of goods to North America with 10.7% delivered in Europe. Smaller percentages of New Zealand’s exported goods arrived in Africa (2.9%) then Latin America (1.7%) excluding Mexico but including the Caribbean.
Given New Zealand’s population of 4.5 million people, its total $39.8 billion during 2018 export sales translates to roughly $8,500 for every resident in the Oceania island country.
In macroeconomic terms, New Zealand’s total exported goods represent 20.1% of its overall Gross Domestic Product for 2018 ($197.8 billion valued in Purchasing Power Parity US dollars). That 20.1% for exports to overall GDP in PPP for 2018 compares to 24.5% for 2014, seeming to indicate a relatively decreasing reliance on products sold on international markets for New Zealand’s total economic performance. And while this article focuses on exported goods, it is interesting to note that New Zealand also provided $16.9 billion worth of exports-related services to global customers for an additional 8.5% of GDP in PPP. These metrics include a significant amount of re-exporting activity.
Another key indicator of a country’s economic performance is its unemployment rate. New Zealand’s unemployment rate was 4.2% at March 2019 down from 4.4% one year earlier, according to Trading Economics.
New Zealand’s Top 10 Exports
Top 10
The following export product groups represent the highest dollar value in global shipments from New Zealand during 2018. Also shown is the percentage share each export category represents in terms of overall exports from New Zealand.
- Dairy, eggs, honey: US$10.2 billion (26.5% of total exports)
- Meat: $5.2 billion (13.5%)
- Wood: $3.6 billion (9.4%)
- Fruits, nuts: $2.2 billion (5.8%)
- Beverages, spirits, vinegar: $1.4 billion (3.5%)
- Cereal/milk preparations: $1.3 billion (3.3%)
- Fish: $1.1 billion (2.9%)
- Machinery including computers: $1 billion (2.7%)
- Aluminum: $850.9 million (2.2%)
- Miscellaneous food preparations: $842.9 million (2.2%)
New Zealand’s top 10 exports accounted for 71.5% of the overall value of its global shipments.
Cereal or milk preparations were the fastest-growing among New Zealand’s top 10 export categories via its up 20.1% gain from 2017 to 2018.
In second place for improving export sales was the fruits and nuts category which appreciated 18%, trailed by New Zealand’s meat exports via a 10.3% uptick.
Leading the decliners were machinery including computers (down -11.2%) and miscellaneous food preparations (down -5.7%).
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of New Zealand’s Most Valuable Export Products further down near the bottom of this article.
Advantages
The following types of New Zealand product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Dairy, eggs, honey: US$10 billion (Down by -0.4% since 2017)
- Meat: $5 billion (Up by 10.7%)
- Wood: $3.3 billion (Up by 9.3%)
- Fruits, nuts: $1.9 billion (Up by 22.1%)
- Fish: $1 billion (Down by -0.9%)
- Cereal/milk preparations: $917.3 million (Up by 24.6%)
- Beverages, spirits, vinegar: $906 million (Down by -7.7%)
- Modified starches, glues, enzymes: $658.9 million (Down by -18.6%)
- Woodpulp: $598.8 million (Up by 6.5%)
- Aluminum: $574.6 million (Up by 7%)
New Zealand has highly positive net exports in the international trade of agricultural products. In turn, these cashflows indicate New Zealand’s strong competitive advantages under the dairy, eggs and honey category–particularly for milk, cream, butter and cheese.
Opportunities
Overall New Zealand incurred a -$5.2 billion trade deficit for 2018, up by 152% from its -$2.1 billion deficit in 2017.
Below are exports from New Zealand that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country New Zealand’s goods trail the island country’s import purchases.
- Vehicles: -US$6.2 billion (Up by 0.9% since 2017)
- Machinery including computers: -$5 billion (Up by 8.2%)
- Mineral fuels including oil: -$4.5 billion (Up by 43.6%)
- Electrical machinery, equipment: -$2.9 billion (Up by 12.5%)
- Plastics, plastic articles: -$1.3 billion (Up by 7.1%)
- Aircraft, spacecraft: -$830 million (Up by 40.6%)
- Furniture, bedding, lighting, signs, prefab buildings: -$785.6 million (Up by 7.5%)
- Optical, technical, medical apparatus: -$718.3 million (Up by 24.9%)
- Pharmaceuticals: -$714.7 million (Up by 11.4%)
- Articles of iron or steel: -$693.4 million (Up by 12.5%)
New Zealand has highly negative net exports and therefore deep international trade deficits for automobiles.
These cashflow deficiencies clearly indicate New Zealand’s competitive disadvantages in the international automotive market, which should come as no surprise given the island company has inadequate infrastructure to compete with large-scale automobile manufacturers.
Companies
New Zealand Companies
The NZX50 Index is the main stock market index for New Zealand. Based on that index, the following companies are among leading stock companies in New Zealand that have the highest capitalization values.
- The a2 Milk Company Limited (dairy products)
- Steel & Tube Holdings Limited (building materials)
- Nuplex Industries Limited (resins for decorative/industrial/protective coatings)
- Coats Group PLC (sewing supplies, zippers, fasteners)
- Kathmandu Holdings Limited (outdoor clothing, equipment)
- Mainfreight Limited (logistics, transportation)
- Australia and New Zealand Banking Group (financial services)
Searchable List of New Zealand’s Most Valuable Export Products
At the more granular four-digit HTS code level, New Zealand’s top exports are agricultural products namely milk and cream followed by butter then sheep or goat meat.
The following searchable table displays 200 of the most in-demand goods shipped from New Zealand during 2018. Shown beside each product label is its total export value then the percentage increase or decrease since 2017.
| Rank | New Zealand's Export | 2018 Value (US$) | Change |
|---|---|---|---|
| 1 | Concentrated/sweetened milk, cream | $5 billion | -2.5% |
| 2 | Sheep or goat meat | $2.7 billion | +14.9% |
| 3 | Butter, other milk fats | $2.6 billion | +10.6% |
| 4 | Rough wood | $2.5 billion | +13.8% |
| 5 | Frozen beef | $1.9 billion | +5.2% |
| 6 | Miscellaneous fruits (fresh) | $1.5 billion | +27.3% |
| 7 | Cheese, curd | $1.3 billion | -4.3% |
| 8 | Wine | $1.2 billion | -0.9% |
| 9 | Flour/meal/starch/malt extract food preparations | $1.1 billion | +25.1% |
| 10 | Aluminum (unwrought) | $707 million | +9.2% |
| 11 | Other food preparations | $668.3 million | -8.1% |
| 12 | Sawn wood | $650.4 million | +6.1% |
| 13 | Casein, derivates, glues | $552.4 million | -13.5% |
| 14 | Apples, pears (fresh) | $543.9 million | +9.6% |
| 15 | Not concentrated/unsweetened milk, cream | $508.8 million | +3.4% |
| 16 | Gold (unwrought) | $431 million | +18.6% |
| 17 | Whey | $394.6 million | -8.8% |
| 18 | Wool (uncarded, uncombed) | $383.5 million | +3.1% |
| 19 | Chemical woodpulp (non-dissolving) | $349.7 million | +16.4% |
| 20 | Crude oil | $338.4 million | -23.8% |
| 21 | Mechano-therapy appliances | $335 million | +4.2% |
| 22 | Petroleum gases | $282.5 million | +190.6% |
| 23 | Whole fish (frozen) | $280.2 million | -9.2% |
| 24 | Moluscs | $279.4 million | +1.7% |
| 25 | Fresh or chilled beef | $266.6 million | +10.8% |
| 26 | Natural honey | $244.3 million | -8.9% |
| 27 | Crustaceans (including lobsters) | $244.2 million | +7.4% |
| 28 | Animal guts, bladders, stomachs | $239.1 million | +32.9% |
| 29 | Iron or steel scrap | $215.9 million | +26.7% |
| 30 | Fish fillets, pieces | $212.9 million | +1.3% |
| 31 | Wood/other ligneous fiberboard | $202.1 million | +5.4% |
| 32 | Red meat offal | $169.6 million | +3.8% |
| 33 | Miscellaneous meat (preserved/prepared) | $160.8 million | +22.8% |
| 34 | Blood fractions (including antisera) | $150.7 million | +13.7% |
| 35 | Miscellaneous animal feed preparations | $146.1 million | +21.8% |
| 36 | Inedible meat flour | $144.5 million | +11.7% |
| 37 | Miscellaneous meat | $143.7 million | +6.4% |
| 38 | Albumins | $141.2 million | -21.3% |
| 39 | Mechanical woodpulp | $135.3 million | +9.3% |
| 40 | Sowing seeds, fruits, spores | $123.4 million | -14.5% |
| 41 | Electrical converters/power units | $120.7 million | +9.2% |
| 42 | Bread, biscuits, cakes, pastries | $116.1 million | -0.6% |
| 43 | Uncoated kraft paper | $110.3 million | +13.3% |
| 44 | Live horses, mules | $110.1 million | -20.1% |
| 45 | Semi-chemical woodpulp | $110.1 million | +4.4% |
| 46 | Medication mixes in dosage | $109.6 million | -17.8% |
| 47 | Whole fish (fresh) | $106.7 million | -3.1% |
| 48 | Coated paper | $106 million | +6.9% |
| 49 | Bovine/equine leather | $104.5 million | -13.6% |
| 50 | Beauty/makeup/skin care preparations | $96.5 million | +7.9% |
| 51 | Phone system devices | $95.3 million | -40.3% |
| 52 | Buttermilk, yogurt | $94.2 million | -16.7% |
| 53 | Harvest/threshing machinery | $90.7 million | -6.9% |
| 54 | Agricultural/forestry/bee-keeping machines | $90.6 million | +21.4% |
| 55 | Fats of bovine, sheep, goats | $90 million | -1.9% |
| 56 | Miscellaneous animal products | $89.6 million | -7.6% |
| 57 | Laminated wood (including plywood, veneer panels) | $89 million | -5.2% |
| 58 | Plastic tableware, kitchenware, toiletry | $87.9 million | +16.5% |
| 59 | Frozen vegetables | $87.5 million | +1.2% |
| 60 | Sauces, mixed condiments, seasonings | $80 million | -6.8% |
| 61 | Non-alcoholic drinks (not water/juice/milk) | $79.5 million | -31.7% |
| 62 | Flat-rolled iron or non-alloy steel products (plated/coated) | $78 million | +14.8% |
| 63 | Tufted carpets/textile floor coverings | $74.6 million | -8.4% |
| 64 | Plastic packing goods, lids, caps | $74.2 million | -10.7% |
| 65 | Other prepared/preserved vegetables (frozen) | $71.9 million | +8.6% |
| 66 | Yachts, other pleasure/sports vessels | $71.2 million | -42.7% |
| 67 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $70.1 million | -19.6% |
| 68 | Aluminum waste, scrap | $69.5 million | +13.5% |
| 69 | Hot-rolled iron or non-alloy steel products | $67.1 million | +72.8% |
| 70 | Shaped wood | $66.9 million | -10.8% |
| 71 | Onions, garlic, leeks | $64.5 million | -22.5% |
| 72 | Peptones, other protein substances | $64 million | +32.3% |
| 73 | Electro-medical equip (e.g. xrays) | $63.2 million | -41.3% |
| 74 | Bovine/equine rawhides, skins | $62.6 million | -0.5% |
| 75 | Milking machines, other dairy equipment | $60.6 million | +39.7% |
| 76 | Carboxylic acids | $59.8 million | +58% |
| 77 | Miscellaneous fresh/chilled vegetables | $59 million | -0.9% |
| 78 | Machine-tool for metal | $57 million | +44% |
| 79 | Miscellaneous plastic items | $55.4 million | -10.6% |
| 80 | Chocolate, other cocoa preparations | $55 million | -47.7% |
| 81 | Sheep/lamb rawhides, skins | $54.8 million | -17.3% |
| 82 | Miscellaneous iron and steel structures | $51.2 million | +3.1% |
| 83 | Temperature-change machines | $51.1 million | -5.8% |
| 84 | Magnets including electro-magnets | $51.1 million | +7.1% |
| 85 | Electrical machinery | $50.5 million | -8.1% |
| 86 | Soups, broths, food preparations | $50.1 million | +2.8% |
| 87 | Packaged insecticides/fungicides/herbicides | $49 million | -25.9% |
| 88 | Apricots, cherries, peaches, nectarines, plums | $48.8 million | -28.1% |
| 89 | Lifting/loading machinery | $48.2 million | -17.2% |
| 90 | Solar power diodes/semi-conductors | $48 million | +0.8% |
| 91 | Fruit and vegetable juices | $47.2 million | -11.2% |
| 92 | Dishwashing, clean/dry/fill machines | $47.2 million | -17.9% |
| 93 | Miscellaneous engines, motors | $46.9 million | -20.6% |
| 94 | Sugar confectionery (no cocoa) | $46.4 million | -25.4% |
| 95 | Other prepared/preserved vegetables (non-frozen) | $45.2 million | -9.9% |
| 96 | Paper/paperboard waste, scrap | $44.8 million | -26.5% |
| 97 | Ivory, whalebone, horns, tortoiseshell | $44.3 million | -6.8% |
| 98 | Poultry meat | $44.3 million | +8.9% |
| 99 | Air conditioners | $41.6 million | -14.1% |
| 100 | Ice cream, edible ice | $40.8 million | +47.6% |
| 101 | Processed petroleum oils | $39.1 million | -47.8% |
| 102 | Solid-form sugars, fructose, glucose, lactose | $38.8 million | -4.9% |
| 103 | Machinery for making semi-conductors | $38.7 million | +127.9% |
| 104 | Tissues, napkins, toilet paper | $37.6 million | -13.4% |
| 105 | Iron ferroalloys | $36.9 million | +2598.2% |
| 106 | Fuel wood, wood chips, sawdust | $36.7 million | -11.7% |
| 107 | Veneer sheets, sheets for sawn wood | $36.3 million | +9.5% |
| 108 | Cigars/cigarellos, cigarettes | $36.1 million | -21.7% |
| 109 | Refrigerators, freezers | $35.9 million | -29.1% |
| 110 | Meat or fish extracts, juices | $35.8 million | -13.5% |
| 111 | Physical/chemical analysis tools | $35.4 million | -6.5% |
| 112 | Plastic plates, sheets, film, tape, strips | $34.9 million | -15.3% |
| 113 | Copper waste, scrap | $34.6 million | -8.4% |
| 114 | Machinery parts | $34.3 million | -11.5% |
| 115 | Computers, optical readers | $34 million | -49.1% |
| 116 | Miscellaneous iron or steel items | $31.9 million | -16.6% |
| 117 | Malt beer | $31.1 million | +12.4% |
| 118 | Automobile parts/accessories | $30.4 million | -43% |
| 119 | Petroleum oil residues | $29.1 million | +1455250% |
| 120 | Cereal-based foods | $28.8 million | -23.1% |
| 121 | Taps, valves, similar appliances | $28.8 million | -10.5% |
| 122 | High-voltage switches, fuses | $28.6 million | +7.5% |
| 123 | Bulbs, tubers, roots | $28.5 million | -3.8% |
| 124 | Miscellaneous preserved fruits | $28 million | -9.6% |
| 125 | Air or vacuum pumps | $27.6 million | +76.2% |
| 126 | Alcohol (including spirits, liqueurs) | $27.5 million | +5.9% |
| 127 | Industrial preparation machinery | $26.8 million | +1.5% |
| 128 | Jams, jellies, marmalades, pastes | $26.7 million | +12.7% |
| 129 | Miscellaneous furniture | $26.4 million | -16.2% |
| 130 | Jewelry | $26.3 million | -22% |
| 131 | Other animal leather | $26.3 million | +56.3% |
| 132 | Miscellaneous machinery | $25.9 million | -13.5% |
| 133 | Weighing or counting machines | $25.7 million | -10.6% |
| 134 | Vulcanized rubber items | $25.5 million | -16% |
| 135 | Wood carpentry, builders' joinery | $25.3 million | -28.7% |
| 136 | Particle board, other ligneous materials | $25.3 million | -11.6% |
| 137 | Crustaceans, molluscs (preserved/prepared) | $25.2 million | -9% |
| 138 | Liquid pumps and elevators | $25.2 million | -25.7% |
| 139 | Lower-voltage switches, fuses | $25.2 million | -24.3% |
| 140 | Aluminum bars/rods | $24.7 million | +7.8% |
| 141 | Interchangeable hand/machine tools | $22.7 million | -8.1% |
| 142 | Other measuring/testing machines | $22.6 million | -28.2% |
| 143 | Items of stone, other mineral substances | $22.4 million | -7% |
| 144 | Lamps, lighting, illuminated signs | $21.7 million | -19% |
| 145 | Live poultry, ducks, geese, turkeys | $21.7 million | +2.1% |
| 146 | Other organic cleaning preparations | $21.5 million | +1.2% |
| 147 | Dried shelled vegetables | $21.5 million | -14.4% |
| 148 | Medication mixes not in dosage | $21.2 million | +16.9% |
| 149 | Live bovine cattle | $21 million | -53.6% |
| 150 | Plastic tubes, pipes, fittings | $20.6 million | -4% |
| 151 | Fish, caviar (preserved/prepared) | $20.3 million | -13.3% |
| 152 | Electrical lighting/signaling equpment, defrosters | $20 million | +7.6% |
| 153 | Uncoated paper | $19.8 million | -3.6% |
| 154 | Mineral, aerated waters | $19.8 million | +17.2% |
| 155 | Tanned or dressed furskins | $19.5 million | +43.8% |
| 156 | Dried vegetables | $18.8 million | -4.2% |
| 157 | Sort/screen/washing machinery | $18.7 million | -10% |
| 158 | Insulated wire/cable | $18.6 million | -14.6% |
| 159 | Camp items including tents, sails | $17.9 million | -26.7% |
| 160 | Electrical/optical circuit boards, panels | $17.8 million | +35.9% |
| 161 | Aluminum containers | $17.7 million | -30.9% |
| 162 | Paper containers, cellulose wadding | $17.7 million | +4.5% |
| 163 | Potatoes | $17.6 million | -3.2% |
| 164 | Miscellaneous copper items | $17.6 million | +28.5% |
| 165 | Electric sound/visual signal bells or alarms | $17.4 million | -8.6% |
| 166 | Trailers | $17 million | -16.1% |
| 167 | Base metal mountings, fittings | $16.7 million | -6.4% |
| 168 | Miscellaneous aluminum items | $16.7 million | +5.2% |
| 169 | Miscellaneous machine electrical parts | $15.8 million | -2.2% |
| 170 | Paper labels | $15.2 million | -3.7% |
| 171 | Aircraft, spacecraft | $14.7 million | -83% |
| 172 | Iron and steel stoves, barbecues | $14.7 million | +5.5% |
| 173 | Provitamins, vitamins | $14.5 million | -53.8% |
| 174 | Pasta, couscous | $14.5 million | -9.4% |
| 175 | Electric circuit parts, fuses, switches | $14.1 million | -2.8% |
| 176 | Seats (excluding barber/dentist chairs) | $13.9 million | +37% |
| 177 | Fish/marine mammal fats and oils | $13.8 million | +78.6% |
| 178 | Salts, pure sodium chloride | $13.8 million | +9.5% |
| 179 | Fresh or dried flowers (for bouquets, ornamental) | $13.7 million | -6.4% |
| 180 | Organic surface-active products, soap | $13.4 million | +1% |
| 181 | Paint/varnish non-aqueous solution | $13.4 million | -13.8% |
| 182 | Sports equipment | $13.2 million | -24% |
| 183 | Centrifuges, filters and purifiers | $13.2 million | -11% |
| 184 | Material removal machine-tools | $13.1 million | +209.1% |
| 185 | Transmission shafts, gears, clutches | $12.8 million | -15.2% |
| 186 | #N/A | $12.7 million | -26.3% |
| 187 | Corn | $12.6 million | -4.1% |
| 188 | Plastic plates, sheets, film, tape, strips | $12.6 million | -1.5% |
| 189 | Aircraft parts | $12.5 million | -71.5% |
| 190 | Sugar (cane or beet) | $12.5 million | -5.1% |
| 191 | Initiators/accelerators, catalytic preps | $12.2 million | +86.9% |
| 192 | Oscilloscopes, spectrum analyzers | $12.1 million | -17.5% |
| 193 | Miscellaneous printed matter | $12 million | -27% |
| 194 | Chemical industry products/residuals | $11.8 million | -19.4% |
| 195 | Refined copper, unwrought alloys | $11.5 million | +43.5% |
| 196 | Dried organs, heparin | $11.4 million | +41.9% |
| 197 | Printed books, brochures | $11.3 million | -4.4% |
| 198 | Mattresses, quilts | $11.2 million | +35.2% |
| 199 | TV receiver/transmit/digital cameras | $11.2 million | -44.1% |
| 200 | Radar, radio communication items | $11 million | -39.4% |
These 200 exported goods were worth a subtotal of US$35.6 billion or more than 90% by value for all products exported from New Zealand during 2018.
See also New Zealand’s Top Trading Partners, New Zealand’s Top 10 Imports and Top Oceanian Export Countries
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 29, 2019
Investopedia, Net Exports Definition. Accessed on February 4, 2019
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on February 4, 2019
Trade Map, International Trade Centre. Accessed on June 29, 2019
Wikipedia, Gross domestic product. Accessed on June 29, 2019
Wikipedia, List of companies of New Zealand. Accessed on February 4, 2019
Wikipedia, NZX 50 Index. Accessed on February 4, 2019
Wikipedia, Purchasing power parity. Accessed on June 29, 2019
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