New Zealand Trade Deficit Narrows in August

New Zealand’s trade deficit shrank to NZD 1.2 billion in August 2025, from NZD 2.3 billion in the corresponding month of the previous year. Exports surged by 23% year-on-year to NZD 5.9 billion, on outbound shipment of fruit (57%), milk powder, butter, and cheese (32%), meat and edible offal (30%), and precious metals, jewelry, and coins (92%). On the other hand, import values declined slightly, falling 0.4% to NZD 7.1 billion, weighed down by lower purchases of petroleum and products (-10%), aircraft and parts (-34%), ships, boats, and floating structures (-92%), and food residues, wastes, and fodder (-16%). Export growth was broad-based, with shipments rising to China (+35%), Australia (+17%), the US (+14%), and the EU (+52%), while imports fell from the EU (-6%), the US (-1.3%), and South Korea (-32%).