New Zealand’s imports totaled US$54.4 billion in 2023, up by 18% compared to $42.3 billion during 2019.

Year over year, the overall cost for products imported into New Zealand fell -8.7% from $54.7 billion in 2022.

Based on the average exchange rate for 2023, the New Zealand dollar depreciated by -7.3% against the US dollar since 2019 and fell by -3.2% from 2022 to 2023. New Zealand’s weaker local currency made its imports paid for in stronger US dollars relatively more expensive when converted starting from the New Zealand dollar.

At the more detailed 4-digit Harmonized Tariff System code level, New Zealand’s most valuable imported products are processed petroleum oils, cars, phone devices including smartphones, trucks, turbo-jets, medication mixes in dosage, computers, aircraft and spacecraft, electro-medical equipment including xrays, then miscellaneous food preparations. Collectively, that leading cohort generated almost two-fifths (37.7%) of New Zealand’s total spending on imported goods for 2023.

Best Suppliers for New Zealand’s Imports

The latest available country-specific data shows that 80.3% of products exported from New Zealand was furnished by exporters in: mainland China (20.7% of New Zealand’s total), Australia (10.8%), United States of America (9.8%), South Korea (7.4%), Japan (6.7%), Singapore (5.6%), Germany (4.5%), Malaysia (4.1%), Thailand (3.7%), United Kingdom (2.6%), Italy (2.3%) and France (2.2%).

From a continental perspective, 56.5% of New Zealand’s total imports by value in 2023 were purchased from Asian countries. Trade partners located in Europe supplied 19.1% of import purchases by New Zealand. Meanwhile 11.2% worth of goods originated from fellow Oceanian nations led by Australia.

North American suppliers accounted for another 11.6% of New Zealand’s spending on imported products.

Smaller percentages were the 1.2% portion from buyers in Latin America (excluding Mexico) and the Caribbean, then the 0.5% from exporters in Africa.

Given New Zealand’s population of 5.2 million people, its total $49.9 billion in 2023 imports translates to roughly $9,600 in yearly product demand from every person in the Pacific Ocean island country. That per-capita amount lags the average $10,600 for 2022.

New Zealand’s Top 10 Imports

The following product groups represent the highest dollar value in New Zealand’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into New Zealand.

1. Mineral fuels including oil: US$7.3 billion (14.6% of total imports)
2. Vehicles: $6.9 billion (13.9%)
3. Machinery including computers: $6.8 billion (13.6%)
4. Electrical machinery, equipment: $4.5 billion (9%)
5. Optical, technical, medical apparatus: $1.7 billion (3.4%)
6. Plastics, plastic articles: $1.6 billion (3.1%)
7. Pharmaceuticals: $1.5 billion (3%)
8. Aircraft, spacecraft: $1.1 billion (2.1%)
9. Food industry waste, animal fodder: $886.1 million (1.8%)
10. Articles of iron or steel: $868 million (1.7%)

New Zealand’s top 10 imports generated about two-thirds (66.2%) of the overall value of New Zealander product purchases from other countries.

Imported aircraft and spacecraft posted the strongest growth in value among New Zealand’s top 10 import categories thanks to a 71% increase from 2022 to 2023.

The other gainer was the mineral fuels including oil category (up 15.2%).

The worst year-over-year decliners were for imports of food industry waste and animal fodder (down -29.6% from 2022), articles made from iron or steel (down -28.7%), then plastics both as materials plus articles made from plastic (down -23.1%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented below is at the more granular 4-digit level.

New Zealand’s Main Mineral Fuels Imports

In 2023, New Zealand importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$7 billion (up 27.4% from 2022)
2. Petroleum oil residues: $172.7 million (down -10.5%)
3. Petroleum gases: $42 million (down -3.8%)
4. Asphalt/petroleum bitumen mixes: $32.6 million (up 94.4%)
5. Coal, solid fuels made from coal: $6.5 million (down -44.8%)
6. Petroleum jelly, mineral waxes: $6 million (down -40.5%)
7. Peat: $3.8 million (up 22.2%)
8. Coke, semi-coke: $2.8 million (down -32.2%)
9. Natural bitumen, asphalt, shale: $2.3 million (down -46.4%)
10. Coal tar oils (high temperature distillation): $853,000 (up 64.4%)

Among these import subcategories, New Zealand’s purchases of asphalt or petroleum bitumen mixes (up 94.4%), high temperature distilled coal tar oils (up 64.4%) then processed petroleum oils (up 27.4%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among New Zealand businesses and consumers.

New Zealand’s Main Vehicles Imports

In 2023, New Zealand importers spent the most on the following 10 subcategories of vehicles.

1. Cars: US$4.2 billion (down -1.3% from 2022)
2. Trucks: $1.3 billion (down -8.4%)
3. Tractors: $390.5 million (up 13%)
4. Automobile parts/accessories: $384.2 million (down -10.8%)
5. Trailers: $229.5 million (down -15.2%)
6. Motorcycles: $170.7 million (down -27.6%)
7. Public-transport vehicles: $56.5 million (up 30.1%)
8. Motorcycle parts/accessories: $48 million (down -21%)
9. Bicycles, other non-motorized cycles: $43.4 million (down -48%)
10. Special purpose vehicles: $42.7 million (down -14.5%)

Among these import subcategories, New Zealand’s purchases of public-transport vehicles (up 30.1%) and tractors (up 13%) grew from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of vehicles-related imports among New Zealand businesses and consumers.

New Zealand’s Main Machinery Imports

In 2023, New Zealand importers spent the most on the following 10 subcategories of machinery including computers.

1. Turbo-jets: US$1.2 billion (up 25% from 2022)
2. Computers, optical readers: $937.9 million (down -13.2%)
3. Heavy machinery (bulldozers, excavators, road rollers): $343.8 million (down -31.6%)
4. Taps, valves, similar appliances: $215.2 million (down -14.2%)
5. Harvest/threshing machinery: $202.9 million (down -16.7%)
6. Centrifuges, filters and purifiers: $199.9 million (down -14.6%)
7. Refrigerators, freezers: $199.6 million (down -14.7%)
8. Liquid pumps and elevators: $194.4 million (up 2.2%)
9. Machinery parts: $190.9 million (down -21.1%)
10. Miscellaneous machinery: $183.8 million (down -16.2%)

Among these import subcategories, New Zealand’s purchases of turbo-jets (up 25%) then liquid pumps and elevators (up 2.2%) grew from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of machinery-related imports including computers among New Zealand businesses and consumers.

New Zealand’s Main Electronics Imports

In 2023, New Zealand importers spent the most on the following 10 subcategories of electrical goods including consumer electronics.

1. Phone devices including smartphones: US$1.4 billion (up 3.7% from 2022)
2. Electrical converters/power units: $268.7 million (up 1.1%)
3. TV receivers/monitors/projectors: $238.6 million (down -25.2%)
4. Insulated wire/cable: $234.6 million (down -26.5%)
5. Electric water heaters, hair dryers: $224.6 million (down -15.1%)
6. Microphones/headphones/amps: $189.2 million (down -6.9%)
7. Lower-voltage switches, fuses: $184.3 million (down -8.3%)
8. Electrical machinery: $155 million (up 3%)
9. TV receiver/transmit/digital cameras: $148.9 million (up 6.3%)
10. Electrical/optical circuit boards, panels: $120.2 million (down -3.3%)

Among these import subcategories, New Zealand’s purchases of television receivers, transmitters and digital cameras (up 6.3%), phone devices including smartphones (up 3.7%), then electrical machinery (up 3%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of electronics-related imports among New Zealand businesses and consumers.
 

See also New Zealand’s Top Trade Partners, New Zealand’s Top 10 Exports and Top Oceanian Export Countries

Research Sources:
Central Intelligence Agency, The World FactbookCountry Profiles. Accessed on April 2, 2024

International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on April 2, 2024

International Trade Centre, Trade Map. Accessed on April 2, 2024

Wikipedia, List of companies of New Zealand. Accessed on April 2, 2024