FX.co ★ New Zealand Trade Surplus Narrows in June

In June 2025, New Zealand recorded a trade surplus of NZD 142 million, a significant decline from the NZD 585 million surplus reported in June of the previous year. Exports experienced a 10% year-over-year increase, reaching NZD 6.6 billion. This growth was driven by heightened demand for key commodities, including a 22% rise in milk powder, butter, and cheese, a 25% increase in fruit and wood products, and a striking 169% surge in crude oil. Conversely, imports surged by 19%, totaling NZD 6.5 billion. This increase was primarily due to a 101% jump in petroleum and related products, a 13% rise in vehicles and parts, and a 14% growth in electrical machinery. The export expansion was widespread, with shipments to China rising by 11%, to Australia by 16%, and to the European Union by 38%. On the import front, purchases from major trade partners also grew, with increases noted from China at 9.1%, the EU at 0.8%, Australia at 6.8%, the United States at 21%, and South Korea at 40%. This trend underscores robust demand across key international markets.