OVERVIEW

New Zealand is a South Pacific country known for its beautiful landscapes, cultural heritage, modern value and deep-rooted Māori traditions.

The nation stands out for its commitment to sustainability, innovation and social equity and its economy, shaped by agriculture, tourism and energy is a reflection of this phenomenon.

In 2023, New Zealand ranked

  • 51st in terms of GDP, currently valued as $252B, out of 195 economies in the world;
  • 62nd in terms of total exports out of 226 countries;
  • 28th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.

ECONOMIC COMPLEXITY RANKING

EXPORT

In 2023 it was estimated that the principal products that were exported from New Zealand were

  • Concentrated Milk - $6.28B;
  • Butter - $2.54B;
  • Frozen Bovine Meat - $2.45B;
  • Sheep and Goat Meat - $2.35B;
  • Rough Wood - $2.19B.

On the other hand, the commonest destinations for New Zealand exports were

  • China - $12.3B;
  • United States - $5.42B;
  • Australia - $5.2B;
  • Japan - $2.62B;
  • South Korea - $1.37B.

Lastly, in the latest year it was revealed that the country was the world’s largest exporter of numerous items, like

  • Milk - $6.28B;
  • Butter - $2.62B;
  • Rough Wood - $2.19B;
  • Casein - $1.06B;
  • Honey - $268M.

IMPORT

In 2023 the most imported products from other countries to New Zealand were

  • Refined Petroleum - $6.99B;
  • Cars - $4.22B;
  • Gas Turbines - $1.53B;
  • Broadcasting Equipment - $1.33B;
  • Delivery Trucks - $1.3B.

These goods are mainly produced by

  • China - $10.2B;
  • Australia - $5.46B;
  • United States - $4.75B;
  • South Korea - $3.71B;
  • Japan - $3.39B.

YEARLY TRADE

During the last five reported years, the exports of New Zealand have increased by $2B, from $41.8B in 2018 to $43.8B in 2023.

The most recent exports are led by

  • Concentrated Milk - $6.16B;
  • Butter - $2.73B;
  • Frozen Bovine Meat - $2.42B;
  • Sheep and Goat Meat - $2.34B;
  • Cheese - $1.88B.

They were exported primarily to

  • China - $11.5B;
  • Australia - $5.32B;
  • United States - $5.27B;
  • Japan - $2.58B;
  • South Korea - $1.37B.

CONCLUSIONS

New Zealand stands out as a reflection of how harmony between people, land and economy can shape a distinctive national character.

Its strength is a reminder that economic growth and cultural depth are deeply intertwined, in a balance that allows evolution while remaining faithful to our own origins.

Source: https://oec.world/en