How do we compare as a trader?
How open is the economy?
Trade as % of GDP since 1970
2024, % of GDP
| Exports + imports | Exports | People (m) |
|---|
Where the value in our exports comes from
| 2022, % of export value | Imported content | Our value in others' exports | Services content |
|---|
Where New Zealand's value added ends up
| Country | Share of gross exports | Share of value added consumed |
|---|
Value added consumed counts New Zealand value that reaches final buyers in each country, including through other countries' exports.
Our place in world trade
New Zealand's share of world goods exports
Where we're a big player
| Product | Exports, US$m | Share of world, 2024 | 1995 |
|---|
Diversified, compared with others?
| 2024 | Equivalent number of products | Equivalent number of markets |
|---|
New Zealand since 1995
Do we get a good price?
| Product (HS 6-digit) | NZ, US$ a tonne | Other exporters | NZ ÷ others |
|---|
2024. Differences reflect product mix within each code as well as quality and branding.
Who we're up against
Why our exports grew more slowly than world trade
| Since | NZ exports | If we'd kept pace with world trade | Product mix | Market mix | Competitiveness |
|---|
Growth to 2024 in US dollars, as % of exports in the base year. Product mix: were our products in growing demand? Market mix: were our markets growing? Competitiveness: what's left, which is share won or lost within each market and product (HS chapter).
Where share was won and lost since 2015
Competitiveness effect, US$m: exports now, less what they'd be had we held our share of each market's imports of that product.
Where could we sell more?
| Product | Market | Its imports, US$m | NZ share there | NZ share of world trade |
|---|
Big importers of our main products where our share is under a third of our world share. Tariffs, quotas, distance and trade within the EU explain many of these gaps; this is a list of where to look, not a forecast.
Who exports like us?
Overlap between each country's export mix and New Zealand's across 1,200 product headings, 2024: 100 would be identical, 0 nothing in common. Countries exporting US$5 billion or more.
Price premium over time
New Zealand's price per tonne ÷ other exporters' price for the same 6-digit product. Above 1 is a premium.
What's new, and what we depend on
Imports that come mostly from one country
| Product | Imports, US$m | Main supplier | Its share | Next |
|---|
Products New Zealand imports US$50 million or more of, where one country supplies 60% or more, 2024.
About these numbers
Openness is exports plus imports of goods and services as a share of GDP (OECD). Small countries usually trade more; across OECD members (leaving out Ireland and Luxembourg, whose figures are inflated by multinationals' accounting), a country of New Zealand's population would be expected to trade about 110% of GDP.
Value added comes from the OECD's Trade in Value Added database (2022 is the latest year).
World trade comes from CEPII's BACI, which reconciles what exporters and importers report for every country and 6-digit product since 1995 (US dollars). The equivalent number of products or markets is 1 ÷ the Herfindahl index: how many equal-sized products or markets would give the same concentration.
Sources: OECD national accounts and Trade in Value Added; Penn World Table 11.0 (population); CEPII BACI (Gaulier and Zignago, Etalab licence 2.0); Stats NZ overseas merchandise trade.