| Actual | Previous | Revised | |
| Balance | NZ$1,920M | NZ$698M | NZ$430M |
| Imports - M/M | -2.3% | -3.7% | -3.7% |
| Imports - Y/Y | 3.4% | 9.6% | 9.4% |
| Exports - M/M | 7.7% | 5.8% | 3.2% |
| Exports - Y/Y | 12.3% | 7.3% | 3.5% |
Highlights
New Zealand's merchandise trade widened from NZ$430 million in March to NZ$1,920 million in April. This compares with a surplus of NZ$1,198 million in April 2025. Exports rose on the month but imports fell again.
Exports rose 7.7 percent on the month in April after falling 2.3 percent in March, with year-over-year growth picking up from 3.5 percent to 12.3 percent. Exports of fruit fell on the year, but exports of meat, forestry products and dairy products all recorded strong increases. Exports were solid across most major trading partners, with strong demand from Australia, the European Union, and China accompanied by a rebound in exports to the the United States.
Imports fell 2.3 percent on the month in April after dropping 3.7 percent in March, and rose 3.4 percent on the year after a previous increase of 9.4 percent. Imports of mechanical machinery and equipment and motor vehicles drove the headline increase while fuel imports stabilised after a previous sharp fall. Growth was mixed across major trading partners.
Definition
The international trade balance measures the difference between imports and exports of both tangible goods and services. Imports may act as a drag on domestic growth and they may also increase competitive pressures on domestic producers. Exports boost domestic production. Trade balance values are calculated by deducting imports (cif) from exports (fob).
Description
Changes in the level of imports and exports, along with the difference between the two (the trade balance) are a valuable gauge of economic trends here and abroad. While these trade figures can directly impact all financial markets, they primarily affect the value of the NZ dollar in the foreign exchange market. Imports indicate demand for foreign goods in New Zealand. Exports show the demand for NZ goods in countries overseas. The currency can be sensitive to changes in the trade deficit run by New Zealand since this trade imbalance creates greater demand for foreign currencies. The bond market is also sensitive to the risk of importing inflation.