Travel lifts international services trade

Travel was New Zealand's largest services export and import for the September 2023 quarter, according to figures released by Stats NZ today.

Travel imports were $1.96 billion, and exports were $2.48 billion in the September 2023 quarter, up from $1.40 billion and $1.65 billion, respectively, in the September 2022 quarter.

"The value of travel imports has exceeded that seen in the September 2019 quarter demonstrating a return to pre-COVID levels," international trade manager Alasdair Allen said.

Travel imports cover expenditure on both goods and services by New Zealand residents while overseas, such as holidaymakers, business travellers, and international students.

Transportation had been New Zealand's top services import since the March 2020 quarter, driven by high costs of sea transportation. It was overtaken by travel in the September 2023 quarter.

Travel exports have also demonstrated growth, increasing from $1.65 billion in the September 2022 quarter and $2.43 billion in the June 2023 quarter to $2.48 billion in the September 2023 quarter.

"Travel exports haven't returned to pre-COVID levels or seasonal patterns, but instead show an unseasonal uptick for the September quarter over June," Allen said.

"Recent international events like the FIFA Women's World Cup, hosted jointly by New Zealand and Australia, may have provided a boost for both travel exports and imports."

There were 645,498 overseas visitors to New Zealand in the September 2023 quarter, or 84 percent of the 768,468 overseas visitors in the September 2019 quarter.

There were 50,529 visitors from China in the September 2023 quarter, or 59 percent of the September 2019 quarter's total.

International travel: September 2023 has more information on the number and characteristics of overseas visitors and New Zealand resident travellers (short-term movements) entering or leaving New Zealand.

As well as making a slower comeback for international travel, international trade with China has been lower in the current quarter than the previous September quarter.

In the September 2023 quarter compared with the September 2022 quarter, goods and services exports to China fell by $893 million to $4.19 billion.

This was driven by falls in milk powder, butter, and cheese (down $294 million); meat and edible offal (down $429 million); and preparations of milk, cereals, flour, and starch (down $125 million, includes infant formula).

Similarly, goods and services imports from China fell by $802 million to $4.52 billion in the September 2023 quarter, compared with the September 2022 quarter.