Overseas Merchandise Trade 29 January

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 December 2025, compared with December 2024:

• goods exports rose by $991 million (15 percent), to $7.7 billion
• goods imports rose by $975 million (15 percent), to $7.6 billion
• the monthly trade balance was a surplus of $52 million.

Text alternative for Goods exports and imports, December 2025 month compared with December 2024 month

Exports

Goods exports rose by $991 million (15 percent) in December 2025 (to $7.7 billion), compared with December 2024.

Milk powder, butter, and cheese leads rise in exports

Milk powder, butter, and cheese rose $361 million (15 percent), to $2.7 billion.

Precious metal exports rose $223 million (172 percent) in December 2025 (to $352 million), compared with December 2024.

Top monthly export movements by country

The monthly movements in December 2025, compared with December 2024, for our top export partners (in order of total annual goods exports) were:

• China: total exports were up $84 million (4.6 percent).
  • The largest rises were milk powder, butter, and cheese, up $91 million; logs, wood, and wood articles, up $27 million; and albumins, gelatin, glues, and enzymes, up $24 million.
  • The largest falls were preparations of milk, cereals, flour, and starch, down $81 million; petroleum and products, down $31 million; and meat and edible offal, down $25 million.
• Australia: total exports were up $204 million (26 percent).
  • The largest rises were precious metals, jewellery, and coins, up $176 million, and crude oil, up $59 million.
  • The largest falls were milk powder, butter, and cheese, down $12 million, and vehicles, parts, and accessories, down $11 million.
• USA: total exports were up $39 million (4.8 percent).
  • The largest rises were meat and edible offal, up $15 million; iron and steel, and articles, up $15 million; and pharmaceutical products, up $11 million.
  • The largest falls were mechanical machinery and equipment, down $17 million, and electrical machinery and equipment, down $15 million.
• EU: total exports were up $120 million (31 percent).
  • The largest rises were meat and edible offal, up $73 million, and aluminium and aluminium articles, up $19 million.
  • There were no significant falls over $10 million.
• Japan: total exports were up $39 million (15 percent).
  • The largest rises were meat and edible offal, up $17 million, and milk powder, butter, and cheese, up $10 million.
  • There were no significant falls over $10 million.

Imports

Goods imports rose by $975 million (15 percent), in December 2025 (to $7.6 billion), compared with December 2024.

Top monthly import movements by country

The monthly movements in December 2025, compared with December 2024, for our top import partners (in order of total annual goods imports) were:

• China: total imports were up $381 million (27 percent).
  • The largest rises were electrical machinery and equipment, up $136 million; mechanical machinery and equipment, up $99 million; and vehicles, parts, and accessories, up $53 million.
  • There were no significant falls over $10 million.
• EU: total imports were up $238 million (26 percent).
  • The largest rises were aircraft and parts, up $141 million; optical, medical, and measuring equipment, up $24 million; and vehicles, parts, and accessories, up $23 million.
  • The largest fall was railway, down $25 million.
• Australia: total imports were up $181 million (27 percent).
  • The largest rises were iron and steel, and articles, up $23 million; pharmaceutical products, up $18 million; and precious metals, jewellery, and coins, up $15 million.
  • There were no significant falls over $10 million.
• USA: total imports were down $128 million (16 percent).
  • The largest rises were food residues, wastes, and fodder, up $28 million; petroleum and products, up $16 million; and mechanical machinery and equipment, up $15 million.
  • The largest falls were aircraft and parts, down $175 million, and vehicles, parts, and accessories, down $18 million.
• South Korea: total imports were up $58 million (11 percent).
  • The largest rise was petroleum and products, up $27 million.
  • There were no significant falls over $10 million.

Trade surplus in December 2025

The monthly trade balance was a surplus of $52 million.

December 2025 quarter

December 2025 values are seasonally adjusted and compared with the September 2025 quarter.

• Goods exports rose 2.6 percent ($532 million) to $20.7 billion, following a 2.7 percent increase in the September 2025 quarter.
• Goods imports rose 5.7 percent ($1.2 billion) to $21.6 billion, following a 0.3 percent increase in the September 2025 quarter.
• The quarterly trade balance was a deficit of $906 million.

December 2025 year

Annual values are actual and compared with the year ended December 2024.

• Annual goods exports were valued at $80.7 billion, up $9.9 billion from the previous year.
• Annual goods imports were valued at $82.9 billion, up $4.2 billion from the previous year.
• The annual trade deficit was $2.2 billion. In the year ended December 2024 the deficit was $7.9 billion.

Text alternative for Goods exports and imports, December 2025 month compared with December 2024 month

The diagram shows goods exports and imports for the December 2025 month compared with the December 2024 month.

The trade balance is a surplus of $52 million. This is the difference between exports valued at $7.7 billion (up $991 million or 15 percent) and imports valued at $7.6 billion (up $975 million or 15 percent).

Export commodities that rose included: milk powder, butter, and cheese, up $361 million (15 percent); meat and edible offal, up $274 million (30 percent); precious metals, jewellery, and coins, up $223 million (172 percent); aluminium and aluminium articles, up $46 million (36 percent).

Export commodities that fell included: preparations of milk, cereals, flour, and starch*, down $80 million (28 percent); mechanical machinery and equipment, down $37 million (14 percent); fruit, down $11 million (23 percent).

Import commodities that rose included: electrical machinery and equipment, up $211 million (40 percent); vehicles, parts, and accessories, up $111 million (16 percent); food residues, wastes, and fodder, up $102 million (61 percent); petroleum and products**, up $77 million (9.7 percent).

Import commodities that fell included: aircraft and parts**, down $32 million (13 percent); tobacco and tobacco substitutes, down $18 million (30 percent); railway, down $17 million (41 percent).

*Includes infant formula.

**Imports and exports of crude oil, petroleum and products, and aircrafts, 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

Sarah Faulkner
[email protected]
04 931 4600

ISSN 1178-0320

Next release

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