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As of June 2018, New Zealand’s exported goods were valued at $19.8 billion up 7.2% compared to the first 6 months of 2017.
Based on estimates from the Central Intelligence Agency’s World Factbook, New Zealand’s exported goods plus services represent 27.4% of its total economic output or Gross Domestic Product. The analysis below focuses on exported products only.
From a continental perspective, over half (53.8%) of New Zealand’s exports by value are delivered to Asian countries while 18% are sold to fellow Oceanian importers led by Australia. New Zealand ships another 12% worth of goods to North America with 10.3% delivered in Europe. A much smaller percentage (3.2%) of New Zealand’s exported goods arrives in Africa.
Given New Zealand’s population of 4.5 million people, its total $37 billion during 2017 export sales translates to roughly $8,200 for every resident in the Oceania island country.
New Zealand’s unemployment rate was 4.6% as of September 2017 down from 4.9% at December 2016 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 2017. 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 (27.6% of total exports)
- Meat: $4.7 billion (12.7%)
- Wood: $3.3 billion (9%)
- Fruits, nuts: $1.9 billion (5.1%)
- Beverages, spirits, vinegar: $1.4 billion (3.7%)
- Fish: $1.1 billion (3.1%)
- Cereal/milk preparations: $1.1 billion (2.9%)
- Machinery including computers: $978.6 million (2.6%)
- Modified starches, glues, enzymes: $884.6 million (2.4%)
- Miscellaneous food preparations: $873.2 million (2.4%)
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.
New Zealand’s top 10 exports accounted for 71.5% of the overall value of its global shipments.
The biggest category–dairy, eggs and honey–were the fastest-growing among New Zealand’s top 10 export categories via its up 27.6% gain from 2016 to 2017.
In second place for improving export sales was cereal or milk preparations which appreciated 25.7%, followed by New Zealand’s wood exports via a 14.9% uptick.
New Zealand’s meat also posted a respectable gain, up 13.6% year over year.
There were two declining categories namely machinery including computers (down -13.6%) as well as fruits and nuts (down -0.8%).
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 is 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 (Up by 27% since 2016)
- Meat: $4.5 billion (Up by 13.6%)
- Wood: $3.1 billion (Up by 15.1%)
- Fruits, nuts: $1.6 billion (Down by -1.9%)
- Fish: $1 billion (Down by -0.5%)
- Beverages, spirits, vinegar: $950.7 million (Up by 6.6%)
- Modified starches, glues, enzymes: $808.3 million (Up by 5.2%)
- Cereal/milk preparations: $735.7 million (Up by 33.8%)
- Woodpulp: $567.7 million (Up by 23.9%)
- Aluminum: $536.4 million (Up by 22.6%)
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 -$3.1 billion trade deficit for 2017, up by 34.2% from its -$2.4 billion deficit in 2016.
As of June 2018, New Zealand’s trade deficit stood at -$954 million reversing a $116.5 million surplus during the first 6 months of 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 19.2% since 2016)
- Machinery including computers: -$4.8 billion (Up by 31.2%)
- Mineral fuels including oil: -$3.2 billion (Up by 21.8%)
- Electrical machinery, equipment: -$2.7 billion (Up by 17.9%)
- Plastics, plastic articles: -$1.2 billion (Up by 14%)
- Furniture, bedding, lighting, signs, prefab buildings: -$739.1 million (Up by 6.4%)
- Aircraft, spacecraft: -$683.5 million (Down by -30.4%)
- Optical, technical, medical apparatus: -$667.6 million (Up by 15.5%)
- Pharmaceuticals: -$666.3 million (Up by 6.7%)
- Articles of iron or steel: -$629.9 million (Up by 19.9%)
New Zealand has highly negative net exports and therefore deep international trade deficits for automobiles.
These cashflow deficiencies clearly indicate New Zealand’s competitive disadvantages in the international automotive market, which should come as no surprise given the island company has inadequate infrastructure to compete with large-scale automobile manufacturers.
Companies
New Zealand Companies
The NZX50 Index is the main stock market index for New Zealand. Based on that index, the following companies are among leading stock companies in New Zealand that have the highest capitalization values.
- The a2 Milk Company Limited (dairy products)
- Steel & Tube Holdings Limited (building materials)
- Nuplex Industries Limited (resins for decorative/industrial/protective coatings)
- Coats Group PLC (sewing supplies, zippers, fasteners)
- Kathmandu Holdings Limited (outdoor clothing, equipment)
- Mainfreight Limited (logistics, transportation)
- Australia and New Zealand Banking Group (financial services)
Searchable List of New Zealand’s Most Valuable Export Products
At the more granular four-digit HTS code level, New Zealand’s top exports are agricultural products namely milk and cream followed by butter then sheep or goat meat.
The following searchable table displays 200 of the most in-demand goods shipped from New Zealand during 2017. Shown beside each product label is its total export value then the percentage increase or decrease since 2016.
| Rank | New Zealand Export Product | 2017 Value (US$) | Change |
|---|---|---|---|
| 1 | Concentrated/sweetened milk, cream | $5.1 billion | +26.1% |
| 2 | Butter | $2.4 billion | +37.6% |
| 3 | Sheep or goat meat | $2.3 billion | +25.4% |
| 4 | Rough wood | $2.2 billion | +21.9% |
| 5 | Frozen beef | $1.8 billion | +5% |
| 6 | Cheese, curd | $1.4 billion | +14.4% |
| 7 | Miscellaneous fruits (fresh) | $1.2 billion | -1.4% |
| 8 | Wine | $1.2 billion | +6.7% |
| 9 | Flour/meal/starch/malt extract food preparations | $897.1 million | +28.8% |
| 10 | Other food preparations | $727.3 million | +8.2% |
| 11 | Aluminum (unwrought) | $647.5 million | +16.4% |
| 12 | Casein glues, other casein derivatives | $638.6 million | +5.9% |
| 13 | Sawn wood | $613.2 million | +4.5% |
| 14 | Apples, pears (fresh) | $496.1 million | -1.1% |
| 15 | Not concentrated/unsweetened milk, cream | $492 million | +67.8% |
| 16 | Crude oil | $444 million | +7.7% |
| 17 | Whey | $432.7 million | -2.8% |
| 18 | Wool (uncarded, uncombed) | $371.8 million | -20.1% |
| 19 | Gold (unwrought) | $363.5 million | +30.1% |
| 20 | Mechano-therapy appliances | $321.4 million | +6.2% |
| 21 | Whole fish (frozen) | $308.7 million | +14.4% |
| 22 | Chemical woodpulp (non-dissolving) | $300.4 million | +15.5% |
| 23 | Moluscs | $274.6 million | -7.8% |
| 24 | Natural honey | $268.1 million | +30.1% |
| 25 | Fresh or chilled beef | $240.7 million | +1.1% |
| 26 | Crustaceans (including lobsters) | $227.5 million | -10.3% |
| 27 | Fish fillets, pieces | $210.3 million | +7.2% |
| 28 | Wood fiberboard | $191.8 million | -0.7% |
| 29 | Animal guts, bladders, stomachs | $179.9 million | +13.7% |
| 30 | Albumins | $179.5 million | +0.9% |
| 31 | Iron or steel scrap | $170.5 million | +19.7% |
| 32 | Red meat offal | $163.3 million | -2.5% |
| 33 | Phone system devices including smartphones | $159.7 million | +22.8% |
| 34 | Sowing seeds, fruits, spores | $144.3 million | +29.1% |
| 35 | Live horses, mules | $137.8 million | +19.3% |
| 36 | Miscellaneous meat | $135.1 million | +11.1% |
| 37 | Therapeutic/prophylactic medicaments | $133.3 million | -14.3% |
| 38 | Blood fractions (including antisera) | $132.6 million | +13.1% |
| 39 | Miscellaneous meat (preserved/prepared) | $130.9 million | +19.5% |
| 40 | Inedible meat flour | $129.4 million | +16.8% |
| 41 | Yachts, other pleasure/sports vessels | $124.3 million | +10% |
| 42 | Mechanical woodpulp | $123.8 million | +21% |
| 43 | Bovine/equine leather | $120.9 million | +0.2% |
| 44 | Miscellaneous animal feed preparations | $119.9 million | +20.7% |
| 45 | Bread, biscuits, cakes, pastries | $116.8 million | +14.2% |
| 46 | Non-alcoholic drinks (not water/juice/milk) | $116.4 million | +24.7% |
| 47 | Buttermilk, yogurt | $113.1 million | +33% |
| 48 | Electrical converters/power units | $110.5 million | +7.3% |
| 49 | Whole fish (fresh) | $110.1 million | +7.1% |
| 50 | Electro-medical equip (e.g. xrays) | $107.7 million | -0.2% |
| 51 | Semi-chemical woodpulp | $105.4 million | +39.3% |
| 52 | Chocolate, other cocoa-containing preparations | $105.2 million | +1.1% |
| 53 | Coated paper | $99.1 million | -0.5% |
| 54 | Harvest/threshing machinery | $97.4 million | -3.3% |
| 55 | Uncoated kraft paper | $97.4 million | -3% |
| 56 | Petroleum gases | $97.2 million | +819.6% |
| 57 | Miscellaneous animal products | $97 million | +19.2% |
| 58 | Laminated wood (including plywood, veneer panels) | $93.9 million | -5.3% |
| 59 | Bovine/sheep/goat fats | $91.7 million | -0.9% |
| 60 | Beauty/makeup/skin care preparations | $89.4 million | -3.7% |
| 61 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $87.2 million | -0.9% |
| 62 | Aircraft, spacecraft | $86.5 million | -2.6% |
| 63 | Frozen vegetables | $86.5 million | +1.7% |
| 64 | Sauces, mixed condiments, seasonings | $85.9 million | +1.4% |
| 65 | Onions, garlic, leeks | $83.2 million | -0.4% |
| 66 | Plastic packing goods, lids, caps | $83.1 million | +2.9% |
| 67 | Tufted carpets/textile floor coverings | $81.4 million | -11.9% |
| 68 | Silver (unwrought) | $80 million | -45.8% |
| 69 | Plastic tableware, kitchenware, toiletry | $75.4 million | +4.2% |
| 70 | Shaped wood | $75 million | +6.6% |
| 71 | Processed petroleum oils | $74.9 million | +55.9% |
| 72 | Agricultural/forestry machinery | $74.6 million | +23.6% |
| 73 | Flat-rolled iron or non-alloy steel products (plated/coated) | $67.9 million | +10.1% |
| 74 | Apricots, cherries, peaches, nectarines, plums | $67.9 million | +28.1% |
| 75 | Computers, optical readers | $66.9 million | +15.4% |
| 76 | Cars | $66.3 million | +26% |
| 77 | Other prepared/preserved vegetables (frozen) | $66.2 million | +13.5% |
| 78 | Sheep/lamb rawhides, skins | $66.2 million | +8.3% |
| 79 | Packaged insecticides/fungicides/herbicides | $66.2 million | +15.9% |
| 80 | Bovine/equine rawhides, skins | $62.9 million | +6% |
| 81 | Sugar confectionery (no cocoa) | $62.2 million | +10.9% |
| 82 | Miscellaneous plastic items | $62 million | +5.8% |
| 83 | Aluminum waste, scrap | $61.2 million | +26.1% |
| 84 | Paper/paperboard waste, scrap | $61 million | +29.7% |
| 85 | Miscellaneous fresh/chilled vegetables | $59.6 million | -8.6% |
| 86 | Miscellaneous engines, motors | $59.1 million | -3.2% |
| 87 | Lifting/loading machinery | $58.3 million | +28% |
| 88 | Dishwashing, clean/dry/fill machines | $57.5 million | +32.8% |
| 89 | Electrical machinery | $55 million | +2.2% |
| 90 | Temperature-change machines | $54.2 million | +0.2% |
| 91 | Automobile parts/accessories | $53.3 million | +7.9% |
| 92 | Fruit and vegetable juices | $53.2 million | -2.5% |
| 93 | Refrigerators, freezers | $50.6 million | -33% |
| 94 | Other prepared/preserved vegetables (non-frozen) | $50.2 million | -3.4% |
| 95 | Miscellaneous iron and steel structures | $49.6 million | -16.5% |
| 96 | Soups, broths | $48.7 million | -0.04% |
| 97 | Air conditioners | $48.4 million | +11.3% |
| 98 | Peptones, other derivatives | $48.4 million | +4.7% |
| 99 | Magnets including electro-magnets | $47.7 million | +42.5% |
| 100 | Solar power diodes/semi-conductors | $47.6 million | +2.2% |
| 101 | Ivory, tortoise shell, whalebone, horns | $47.5 million | +63.3% |
| 102 | Cigars/cigarellos, cigarettes | $46.1 million | -17.1% |
| 103 | Live bovine cattle | $45.2 million | -23.3% |
| 104 | Aircraft parts | $44 million | +115.4% |
| 105 | Tissues, napkins, toilet paper | $43.4 million | +10.2% |
| 106 | Milking machines, dairy machinery | $43.4 million | +17.4% |
| 107 | Fuel wood, wood chips, sawdust | $41.5 million | -7.9% |
| 108 | Meat/fish/crustaceans extracts, juices | $41.3 million | -1.3% |
| 109 | Plastic plates, sheets, film, tape, strips | $41.1 million | +10.7% |
| 110 | Solid-form sugars, fructose, glucose, lactose | $40.8 million | -9.5% |
| 111 | Poultry meat | $40.6 million | -0.7% |
| 112 | Forging, hammering, die-stamping machine tools | $39.6 million | -1.9% |
| 113 | Hot-rolled iron or non-alloy steel products | $38.8 million | +44.9% |
| 114 | Machinery parts | $38.8 million | -8.2% |
| 115 | Miscellaneous iron or steel items | $38.3 million | +21% |
| 116 | Carboxylic acids | $37.9 million | -15.4% |
| 117 | Physical/chemical analysis tools | $37.9 million | +0.9% |
| 118 | Copper waste, scrap: | $37.8 million | +22.8% |
| 119 | Preparted cereal foods: | $37.5 million | +12.6% |
| 120 | Wood carpentry, builders' joinery | $35.5 million | +8.2% |
| 121 | Liquid pumps and elevators | $34 million | -1.8% |
| 122 | Jewelry | $33.7 million | -21.8% |
| 123 | Lower-voltage switches, fuses | $33.3 million | -3.9% |
| 124 | Veneer sheets, sheets for sawn wood | $33.1 million | +12.1% |
| 125 | Taps, valves, similar appliances | $32.2 million | +9.6% |
| 126 | Other measuring/testing machines | $31.5 million | +18.4% |
| 127 | Miscellaneous furniture | $31.4 million | -8.8% |
| 128 | Provitamins, vitamins | $31.4 million | +87.4% |
| 129 | Miscellaneous preserved fruits | $31 million | +5.2% |
| 130 | Vulcanized rubber items | $30.3 million | +17.7% |
| 131 | Miscellaneous machinery | $29.9 million | +19.2% |
| 132 | Bulbs, tubers, tuberous roots | $29.6 million | +10.7% |
| 133 | Weighing/counting/checking machinery | $28.8 million | -7.8% |
| 134 | Particle board, other ligneous materials | $28.6 million | -0.2% |
| 135 | Crustaceans, molluscs (preserved/prepared) | $27.7 million | +26.2% |
| 136 | Malt beer | $27.7 million | +5% |
| 137 | Ice cream, other edible ice | $27.6 million | -1.7% |
| 138 | Regulate/control instruments | $27 million | +29% |
| 139 | Lamps, lighting fittings including spotlights | $26.8 million | -10.6% |
| 140 | High-voltage switches, fuses | $26.6 million | -4.2% |
| 141 | Industrial preparation machinery | $26.4 million | +43.2% |
| 142 | Alcohol (including spirits, liqueurs) | $25.9 million | +18.8% |
| 143 | Aluminum containers | $25.6 million | +35.6% |
| 144 | Men's suits, trousers (not knit or crochet) | $25.3 million | +32.6% |
| 145 | Dried shelled vegetables | $25.1 million | -2.1% |
| 146 | Interchangeable hand/machine tools | $24.7 million | +6.9% |
| 147 | Camp items including tents, sails | $24.4 million | +24.3% |
| 148 | Stone articles, other mineral substances | $24.1 million | -26.4% |
| 149 | Jam, fruit jellies, marmalades, purees | $23.7 million | +13.2% |
| 150 | Specialized machinery parts, accessories | $23.6 million | -4.1% |
| 151 | Fish, caviar (preserved/prepared) | $23.5 million | +8.2% |
| 152 | Aluminum bars/rods | $22.9 million | +2.8% |
| 153 | Insulated wire/cable | $21.8 million | -26.6% |
| 154 | Plastic tubes, pipes, fittings | $21.4 million | -7.6% |
| 155 | Other organic cleaning preparations | $21.2 million | +11.2% |
| 156 | Live poultry | $21.2 million | +8.8% |
| 157 | Sort/screen/washing machinery | $20.7 million | +5.2% |
| 158 | Uncoated paper | $20.6 million | -14.5% |
| 159 | Trailers | $20.2 million | +142.2% |
| 160 | Footwear (leather) | $20.1 million | +3.9% |
| 161 | TV receiver/transmit/digital cameras | $20.1 million | -10.7% |
| 162 | Dried vegetables (sliced, broken, powder) | $19.6 million | +28.3% |
| 163 | Zoological/botanic/historic collectibles | $19.5 million | +75.3% |
| 164 | Jerseys, pullovers, cardigans, waistcoats | $19.2 million | +22.6% |
| 165 | Piston engines | $19.2 million | +8.1% |
| 166 | Electric sound/visual signal bells or alarms | $19 million | -33.0% |
| 167 | Electrical lighting/signaling equpment, defrosters | $18.6 million | +13.2% |
| 168 | Unrecorded sound media | $18.4 million | +33.4% |
| 169 | Heavy machinery (bulldozers, excavators, road rollers) | $18.2 million | +24.2% |
| 170 | Radar, radio communication items | $18.2 million | -7.5% |
| 171 | Potatoes | $18.2 million | +9.4% |
| 172 | Medication mixes not in dosage | $18.1 million | +62.5% |
| 173 | Printing machinery | $17.9 million | -3.7% |
| 174 | Base metal mountings, fittings | $17.9 million | +13.8% |
| 175 | Women's clothing (not knit or crochet) | $17.6 million | -39.3% |
| 176 | Sports equipment | $17.4 million | +4.1% |
| 177 | Other animal fats, oils | $17.2 million | +610.3% |
| 178 | Machinery for making semi-conductors | $17 million | -52.7% |
| 179 | Paper packing cartons, boxes, cases, bags | $16.9 million | -12.8% |
| 180 | Mineral, aerated waters | $16.9 million | +11.4% |
| 181 | Other animal leather | $16.8 million | -3.1% |
| 182 | Survey/hydro/weather instruments | $16.7 million | +31.6% |
| 183 | Miscellaneous printed matter | $16.4 million | +5% |
| 184 | Cases, handbags, wallets | $16.2 million | -22.8% |
| 185 | Miscellaneous machine electrical parts | $16.2 million | +44.4% |
| 186 | Pasta | $16 million | -3.9% |
| 187 | Miscellaneous aluminum items | $15.9 million | +2.9% |
| 188 | Non-granulated slag, dross | $15.9 million | +327.0% |
| 189 | Paper labels | $15.8 million | -22.9% |
| 190 | Rubber/plastic article making machines | $15.7 million | +32.2% |
| 191 | Air or vacuum pumps | $15.7 million | +12.8% |
| 192 | Paints, varnishes | $15.5 million | +4.7% |
| 193 | Transmission shafts, gears, clutches | $15 million | +27.2% |
| 194 | Centrifuges, filters and purifiers | $14.8 million | -2% |
| 195 | Oscilloscopes, spectrum analyzers | $14.7 million | +12.9% |
| 196 | Chemical industry products/residuals | $14.7 million | +11.5% |
| 197 | Fresh or dried flowers (for bouquets, ornamental) | $14.6 million | -0.5% |
| 198 | Electric circuit parts, fuses, switches | $14.5 million | +46.6% |
| 199 | Iron and steel stoves, barbecues | $13.9 million | +9.6% |
| 200 | Miscellaneous copper items | $13.7 million | +50.6% |
These 200 exported goods were worth a subtotal of US$34.8 billion or more than 90% by value for all products exported from New Zealand during 2017.
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 August 13, 2018
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on August 13, 2018
Trade Map, International Trade Centre. Accessed on August 13, 2018
Investopedia, Net Exports Definition. Accessed on August 13, 2018
Wikipedia, List of companies of New Zealand. Accessed on August 13, 2018
Wikipedia, NZX 50 Index. Accessed on August 13, 2018
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