In May 2025, New Zealand achieved a trade surplus of NZD 1.235 billion, significantly up from the modest NZD 54 million surplus recorded in the same period the previous year. Exports saw a robust increase of 9.7% year-on-year, reaching NZD 7.7 billion. This growth was primarily driven by heightened demand for key commodities, notably milk powder, butter, and cheese, which surged by 18%, fruit by 25%, meat and edible offal by 11%, and precious metals, jewelry, and coins by a remarkable 69%. On the other hand, imports increased by 7.2% to NZD 6.4 billion, with notable rises in the import of ships and boats (up by 443%), fertilizers (up by 179%), and electrical machinery (up by 5.0%).
Export growth was widespread, with shipments to China experiencing a 13% increase, to Australia by 10%, and to the European Union by an impressive 41%. In contrast, import activity displayed a more varied trend. While imports from China saw a modest rise of 3.7%, there were declines in imports from other key partners, including the United States (-34%), Australia (-4.8%), the European Union (-2.4%), and South Korea (-11%).
