FX.co ★ New Zealand Swings to Strong Trade Surplus in April

New Zealand achieved a trade surplus of $1.43 billion in April 2025, marking a substantial improvement from the $3 million deficit reported in the same period the previous year. Export values climbed 25% compared to the previous year, reaching $7.8 billion, driven by strong demand for key commodities such as milk powder, butter, and cheese (up 38%), meat and edible offal (up 34%), fruit (up 28%), and logs, wood, and wood products (up 42%). In contrast, imports increased at a more modest rate of 1.8%, totaling $6.4 billion. Noteworthy growth was noted in mechanical machinery and equipment (up 22%), aircraft and parts (up 328%), and inorganic chemicals (up 55%). Export increases were broad-based, with shipments to China growing by 30%, to the United States by 25%, to the European Union by 34%, to Japan by 12%, and to Australia by 4.9%. Import growth was also significant, particularly from the United States (up 66%), the EU (up 9.6%), and China (up 3.9%).