The United States and New Zealand engage regularly to discuss trade and investment issues, including under our 1992 Trade and Investment Framework Agreement.
In 2019, New Zealand GDP was an estimated $204.7 billion (current market exchange rates); real GDP was up by an estimated 2.2%; and the population was 5 million. (Source: IMF)
U.S. goods and services trade with New Zealand totaled an estimated $13.8 billion in 2019. Exports were $7.2 billion; imports were $6.6 billion. The U.S. goods and services trade surplus with New Zealand was $570 million in 2019.
New Zealand is currently our 52nd largest goods trading partner with $8.1 billion in total (two way) goods trade during 2019. Goods exports totaled $3.9 billion; goods imports totaled $4.1 billion. The U.S. goods trade deficit with New Zealand was $166 million in 2019.
Trade in services with New Zealand (exports and imports) totaled an estimated $5.7 billion in 2019. Services exports were $3.2 billion; services imports were $2.5 billion. The U.S. services trade surplus with New Zealand was $736 million in 2019.
Exports
- New Zealand was the United States' 47th largest goods export market in 2019.
- U.S. goods exports to New Zealand in 2019 were $3.9 billion, down 2.8% ($112 million) from 2018 but up 82.9% from 2009.
- The top export categories (2-digit HS) in 2019 were: aircraft ($793 million), machinery ($507 million), vehicles ($449 million), special other (returns or repairs) ($329 million), and electrical machinery ($228 million).
- U.S. total exports of agricultural products to New Zealand totaled $540 million in 2019. Leading domestic export categories include: dairy products ($104 million), distillers grains ($48 million), dog and cat food ($42 million), prepared food ($39 million), and fresh fruit ($38 million).
- U.S. exports of services to New Zealand were an estimated $3.2 billion in 2019, 3.5% ($109 million) more than 2018, and 108% greater than 2009 levels. Leading services exports from the U.S. to New Zealand were in the travel, financial services, and intellectual property (computer software) sectors.
Imports
- New Zealand was the United States' 53rd largest supplier of goods imports in 2019.
- U.S. goods imports from New Zealand totaled $4.1 billion in 2019, down 1.8% ($74 million) from 2018, but up 60.9% from 2009.
- The top import categories (2-digit HS) in 2019 were: meat (beef) ($983 million), beverages (grapes) ($479 million), special other (returns) ($476 million), dairy, eggs, honey ($315 million), and machinery ($267 million).
- U.S. total imports of agricultural products from New Zealand totaled $2.4 billion in 2019, our 16th largest supplier of agricultural imports. Leading categories include: red meats, fresh, chilled, or frozen ($983 million), wine and beer ($466 million), other dairy products ($465 million), other fresh fruit ($127 million), and red meats, prepared or preserved ($58 million).
- U.S. imports of services from New Zealand were an estimated $2.5 billion in 2019, 8.2% ($189 million) more than 2018, and 137% greater than 2009 levels. Leading services imports from New Zealand to the U.S. were in the transport, travel, and technical and other services sectors.
Trade Balance
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The U.S. goods trade deficit with New Zealand was $127 million in 2018, a 46.4% decrease ($110 million) over 2017.
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The United States had a services trade surplus of an estimated $736 million with New Zealand in 2019, down 9.8% from 2018.
Investment
- U.S. foreign direct investment (FDI) in New Zealand (stock) was $12.0 billion in 2019, a 3.0% increase from 2018. U.S. direct investment in New Zealand is led by manufacturing, professional, scientific, and technical services, and wholesale trade.
- New Zealand's FDI in the United States (stock) was $2.6 billion in 2019, up 21.0% from 2018. There is no information on the distribution of New Zealand FDI in the U.S.
- Sales of services in New Zealand by majority U.S.-owned affiliates were $3.9 billion in 2017 (latest data available), while sales of services in the United States by majority New Zealand-owned firms were $401 million.
