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The United States and New Zealand engage regularly to discuss trade and investment issues, including under our 1992 Trade and Investment Framework Agreement.
In 2018, New Zealand GDP was an estimated $203.4 billion (current market exchange rates); real GDP was up by an estimated 3.0%; and the population was 5 million. (Source: IMF)
U.S. goods and services trade with New Zealand totaled an estimated $13.4 billion in 2017 (latest data available). Exports were $6.7 billion; imports were $6.7 billion. The U.S. goods and services trade surplus with New Zealand was $52 million in 2017.
New Zealand is currently our 50th largest goods trading partner with $8.3 billion in total (two way) goods trade during 2018. Goods exports totaled $4.1 billion; goods imports totaled $4.2 billion. The U.S. goods trade deficit with New Zealand was $124 million in 2018.
Trade in services with New Zealand (exports and imports) totaled an estimated $5.3 billion in 2017 (latest data available). Services exports were $2.8 billion; services imports were $2.5 billion. The U.S. services trade surplus with New Zealand was $289 million in 2017 (latest data available).
According to the Department of Commerce, U.S. exports of goods and services to New Zealand supported an estimated 33 thousand jobs in 2015 (latest data available) (18 thousand supported by goods exports and 15 thousand supported by services exports).
- New Zealand was the United States' 48th largest goods export market in 2018.
- U.S. goods exports to New Zealand in 2018 were $4.1 billion, up 3.6% ($143 million) from 2017 and up 60.5% from 2008.
- The top export categories (2-digit HS) in 2018 were: aircraft ($1.0 billion), machinery ($508 million), vehicles ($448 million), special other (low value estimates) ($335 million), and electrical machinery ($204 million).
- U.S. total exports of agricultural products to New Zealand totaled $479 million in 2018. Leading domestic export categories include: dairy products ($83 million), distillers grains ($48 million), fresh fruit ($41 million), prepared food ($40 million), and dog & cat food ($34 million).
- U.S. exports of services to New Zealand were an estimated $2.8 billion in 2017 (latest data available), 7.2% ($188 million) more than 2016, and 88.4% greater than 2007 levels. Leading services exports from the U.S. to New Zealand were in the travel, financial services, and intellectual property (industrial processes) sectors.
- New Zealand was the United States' 54th largest supplier of goods imports in 2018.
- U.S. goods imports from New Zealand totaled $4.2 billion in 2018, up 0.7% ($30 million) from 2017, and up 32.2% from 2008.
- The top import categories (2-digit HS) in 2018 were: meat (beef) ($1.2 billion), beverages (wine) ($454 million), special other (returns) ($352 million), dairy, eggs, honey ($302 million), and machinery ($266 million).
- U.S. total imports of agricultural products from New Zealand totaled $2.6 billion in 2018. Leading categories include: red meats, fresh/chilled/frozen ($1.2 billion), wine and beer ($442 million), other dairy products ($435 million), other fresh fruit ($138 million), and red meats, prepared/preserved ($55 million).
- U.S. imports of services from New Zealand were an estimated $2.5 billion in 2017 (latest data available), 13.1% ($288 million) more than 2016, and 123% greater than 2007 levels. Leading services imports from New Zealand to the U.S. were in the transport, travel, and technical and other services sectors.
- The U.S. goods trade deficit with New Zealand was $124 million in 2018, a 47.5% decrease ($112 million) over 2017.
- The United States has a services trade surplus of an estimated $289 million with New Zealand in 2017 (latest data available), down 25.7% from 2016.
- U.S. foreign direct investment (FDI) in New Zealand (stock) was $11.9 billion in 2017 (latest data available), a 0.1% decrease from 2016.
- New Zealand's FDI in the United States (stock) was $164 million in 2017 (latest data available), down 21.5% from 2016.
- Sales of services in New Zealand by majority U.S.-owned affiliates were $3.8 billion in 2016 (latest data available), while sales of services in the United States by majority New Zealand-owned firms were $485 million.