Overseas Merchandise Trade 20 February

Overseas merchandise trade statistics provide information on imports and exports of merchandise goods between New Zealand and other countries.

Key facts

This release refers to trade in goods only.

In January 2026, compared with January 2025:

• goods exports rose by $157 million (2.6 percent), to $6.2 billion
• goods imports rose by $126 million (1.9 percent), to $6.7 billion
• the monthly trade balance was a deficit of $519 million.

Text alternative for Goods exports and imports, January 2026 month compared with January 2025 month

Exports

Goods exports rose by $157 million (2.6 percent) in January 2026 (to $6.2 billion), compared with January 2025.

Milk powder, butter, and cheese lead fall in exports

Milk powder, butter, and cheese fell $164 million (6.6 percent), to $2.3 billion.

Top monthly export movements by country

The monthly movements in January 2026, compared with January 2025, for our top export partners (in order of total annual goods exports) were:

• China: total exports were down $118 million (7.0 percent).
  
  • The largest rises were miscellaneous edible preparations, up $14 million, and other animal-originated products, up $11 million.
  • The largest falls were logs, wood, and wood articles, down $65 million; milk powder, butter, and cheese, down $41 million; and meat and edible offal, down $40 million.
• Australia: total exports were up $134 million (20 percent).
  
  • The largest rises were precious metals, jewellery, and coins, up $100 million, and ships, boats, and floating structures, up $34 million.
  • There were no significant falls over $10 million.
• USA: total exports were up $2.6 million (0.4 percent).
  
  • The largest rises were meat and edible offal, up $119 million, and optical, medical, and measuring equipment, up $11 million.
  • The largest falls were wine, down $28 million; milk powder, butter, and cheese, down $20 million; and casein and caseinates, down $16 million.
• EU: total exports were up $56 million (16 percent).
  
  • The largest rises were meat and edible offal, up $77 million, and aluminium and aluminium articles, up $14 million.
  • The largest fall was mechanical machinery and equipment, down $51 million.
• Japan: total exports were up $28 million (11 percent).
  
  • There were no significant rises or falls over $10 million.

Imports

Goods imports rose by $126 million (1.9 percent), in January 2026 (to $6.7 billion), compared with January 2025.

Top monthly import movements by country

The monthly movements in January 2026, compared with January 2025, for our top import partners (in order of total annual goods imports) were:

• China: total imports were up $346 million (24 percent).
  
  • The largest rises were mechanical machinery and equipment, up $75 million; vehicles, parts, and accessories, up $69 million; and petroleum and products, up $59 million.
  • There were no significant falls over $10 million.
• EU: total imports were up $53 million (5.6 percent).
  
  • The largest rises were vehicles, parts, and accessories, up $47 million; electrical machinery and equipment, up $26 million; and pharmaceutical products, up $13 million.
  • The largest fall was aircraft and parts, down $53 million.
• Australia: total imports were down $50 million (8.1 percent).
  
  • The largest rises were precious metals, jewellery, and coins, up $24 million, and mechanical machinery and equipment, up $14 million.
  • The largest falls were inorganic chemicals, down $49 million, and ships, boats, and floating structures, down $11 million.
• USA: total imports were down $116 million (17 percent).
  
  • The largest rises were aircraft and parts, up $44 million, and food residues, wastes, and fodder, up $14 million.
  • The largest falls were mechanical machinery and equipment, down $120 million; electrical machinery and equipment, down $17 million; and cereals, down $16 million.
• South Korea: total imports were up $159 million (36 percent).
  
  • The largest rise was petroleum and products, up $149 million.
  • There were no significant falls over $10 million.

Trade deficit in January 2026

The monthly trade balance was a deficit of $519 million.

January 2026 year

Annual values are actual and compared with the year ended January 2025.

• Annual goods exports were valued at $80.7 billion, up $8.7 billion from the previous year.
• Annual goods imports were valued at $83.0 billion, up $3.6 billion from the previous year.
• The annual trade deficit was $2.3 billion. In the year ended January 2025, the deficit was $7.3 billion.

Text alternative for Goods exports and imports, January 2026 month compared with January 2025 month

The diagram shows goods exports and imports for the January 2026 month compared with the January 2025 month.

The trade balance is a deficit of $519 million. This is the difference between exports valued at $6.2 billion (up $157 million or 2.6 percent) and imports valued at $6.7 billion (up $126 million or 1.9 percent).

Export commodities that rose included: meat and edible offal, up $302 million (38 percent); precious metals, jewellery, and coins, up $119 million (88 percent); ships, boats, and floating structures*, up $41 million (390 percent); albumins, gelatin, glues, and enzymes, up $35 million (67 percent).

Export commodities that fell included: milk powder, butter, and cheese, down $164 million (6.7 percent); mechanical machinery and equipment, down $64 million (35 percent); logs, wood, and wood articles, down $62 million (19 percent); fruit, down $39 million (34 percent).

Import commodities that rose included: vehicles, parts, and accessories, up $97 million (16 percent); electrical machinery and equipment, up $50 million (8.3 percent); precious metals, jewellery, and coins, up $41 million (112 percent); iron and steel, and articles, up $34 million (25 percent).

Import commodities that fell included: inorganic chemicals, down $47 million (46 percent); aircraft and parts*, down $45 million (34 percent); sugars and sugar confectionery, down $30 million (42 percent); food residues, wastes, and fodder, down $29 million (21 percent).

*Exports and imports of ships, boats, and floating structures, and aircraft and parts, fluctuate month to month based on individual large movements.

Source: Stats NZ

More data

Use Infoshare to access time-series data for imports and exports (subject category: Imports and exports).

Overseas merchandise trade datasets has CSV data for goods imports and exports.

International trade: September 2025 quarter has information on trade in goods and services.

Definitions and metadata

Overseas merchandise trade - DataInfo+ provides the definitions of terms used in this release and general methodology used to produce overseas merchandise trade statistics.

Technical enquiries

Pania Stanbridge
[email protected]
04 931 4600

ISSN 1178-0320

Next release

Overseas merchandise trade: February 2026 will be released on 20 March 2026.