That dollar amount results from a 13.3% gain compared to $37.5 billion five years earlier during 2020.
Year over year, the value of goods exported from New Zealand grew by 6.8% from $39.8 billion in 2023.
Based on the average exchange rate for 2024, the New Zealand dollar depreciated by -1.5% against the US dollar from 2023 to 2024. New Zealand’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
New Zealand’s biggest export products by value in 2024 were concentrated and sweetened milk or cream, butter, frozen beef, sheep or goat meat, and miscellaneous fresh fruit. In aggregate, those major exports generated over two-thirds (36.1%) of overall exports sales from New Zealand. That percentage suggests a relatively concentrated range of exported goods mainly from the agricultural sector.
New Zealand is a world leader for exporting concentrated and sweetened milk or cream, rough wood and butter plus other milk fats and oils.
New Zealand also ranks among the top countries for global sales of sheep or goat meat and frozen beef.
New Zealand’s Best International Trade Customers
The latest available country-specific data shows that 73.6% of products exported from New Zealand was bought by importers in: mainland China (25.1% of New Zealand’s total), United States of America (12.7%), Australia (12.6%), Japan (5.3%), South Korea (2.8%), Singapore (2.49%), United Kingdom (2.44%), Indonesia (2.3%), Taiwan (2.2%), Malaysia (2.1%), Thailand (1.8%) and Hong Kong (1.7%).
From a continental perspective, 55.4% of New Zealand’s exports by value was delivered to Asian countries while 15.3% was sold to importers in Oceania led by Australia and Fiji. New Zealand shipped another 15.1% worth of goods to buyers in North America.
Smaller percentages went to customers in Europe (9.9%), Africa (2.9%) then Latin America (1.4%) excluding Mexico but including the Caribbean.
Given New Zealand’s population of 5.4 million people, its total $42.5 billion during 2024 export sales translates to roughly $7,900 for every resident in the island country in Oceania. That per-capita amount surpasses the average $7,700 in 2023.
New Zealand’s Top 10 Exports
The following export product groups categorize the highest dollar value in global shipments from New Zealand during 2024. Also shown is the percentage share each export category represents in terms of overall exports from New Zealand.
- Dairy, eggs, honey: US$12.4 billion (29.3% of total exports)
- Meat: $5.2 billion (12.3%)
- Fruits, nuts: $2.9 billion (6.8%)
- Wood: $2.9 billion (6.8%)
- Cereal/milk preparations: $1.6 billion (3.9%)
- Beverages, spirits, vinegar: $1.5 billion (3.5%)
- Machinery including computers: $1.5 billion (3.5%)
- Fish: $1.22 billion (2.9%)
- Modified starches, glues, enzymes: $1.18 billion (2.8%)
- Electrical machinery, equipment: $960.7 million (2.3%)
New Zealand’s top 10 export product categories attracted almost three-quarters (74%) of the overall revenues for its global shipments.
Electrical machinery and equipment was the fastest grower among the top 10 export categories, up by 38.2% from 2023 to 2024.
In second place for improving export sales was fruits and nuts which rose by 34.1%.
New Zealand’s shipments of machinery including computers posted the third-fastest gain in value, up by 26.1%.
The leading decliner among New Zealand’s top 10 export categories was modified starches, glues and enzymes which fell -12.6% year over year.
For a detailed listing of New Zealand’s most lucrative exports at the 4-digit HTS code level, please see the section below.
Searchable List of New Zealand’s Most Valuable Export Products
At the more granular 4-digit HTS code level, the following searchable table displays 100 of the most in-demand goods shipped from New Zealand during 2024. Shown beside each product label is its total export value then the percentage increase or decrease since 2023.
| Rank | New Zealand Export Product | Value (US$) | Change |
|---|---|---|---|
| 1 | Concentrated/sweetened milk, cream | $5,903,254,000 | +0.6% |
| 2 | Butter | $2,609,545,000 | +7.8% |
| 3 | Frozen beef | $2,388,289,000 | -5.2% |
| 4 | Sheep or goat meat | $2,286,876,000 | -4.6% |
| 5 | Miscellaneous fruits (fresh) | $1,506,934,000 | +41.8% |
| 6 | Rough wood | $1,998,664,000 | -4.4% |
| 7 | Cheese, curd | $1,789,305,000 | -7.5% |
| 8 | Flour/meal/starch/malt extract food preparations | $1,377,810,000 | +8% |
| 9 | Wine | $1,292,472,000 | -5.8% |
| 10 | Not concentrated/unsweetened milk, cream | $904,206,000 | +4.2% |
| 11 | Casein, caseinates | $1,025,951,000 | -20.9% |
| 12 | Aluminum (unwrought) | $781,015,000 | -6.2% |
| 13 | Other food preparations | $728,576,000 | -0.4% |
| 14 | Whey | $624,850,000 | +9.4% |
| 15 | Sawn wood | $527,950,000 | +17.2% |
| 16 | Gold (unwrought) | $457,976,000 | +32.4% |
| 17 | Apples, pears (fresh) | $537,266,000 | +12.1% |
| 18 | Mechano-therapy appliances | $401,237,000 | +21.3% |
| 19 | Crude oil | $492,942,000 | -14.4% |
| 20 | Fresh or chilled beef | $328,668,000 | +17.6% |
| 21 | Chemical woodpulp (non-dissolving) | $243,204,000 | +41.7% |
| 22 | Moluscs | $269,345,000 | +13% |
| 23 | Wool (uncarded, uncombed) | $275,051,000 | +7.4% |
| 24 | Crustaceans (including lobsters) | $239,313,000 | +19.6% |
| 25 | Albumins | $303,069,000 | -9.1% |
| 26 | Phone devices including smartphones | $229,946,000 | +19.3% |
| 27 | Whole fish (frozen) | $110,075,000 | +148.5% |
| 28 | Natural honey | $260,506,000 | -0.2% |
| 29 | Miscellaneous animal feed preparations | $243,262,000 | +2.8% |
| 30 | Fish fillets, pieces | $224,228,000 | +2.9% |
| 31 | Blood fractions (including antisera) | $203,309,000 | +12.8% |
| 32 | Iron or steel scrap | $218,307,000 | +3.1% |
| 33 | Red meat offal | $283,132,000 | -21% |
| 34 | Animal guts, bladders, stomachs | $210,124,000 | -0.7% |
| 35 | Non-alcoholic drinks (not water/juice/milk) | $242,116,000 | -15.4% |
| 36 | Sowing seeds, fruits, spores | $170,709,000 | +17.4% |
| 37 | Ligneous fiberboard including wood | $161,489,000 | +16.6% |
| 38 | Electrical converters/power units | $166,132,000 | -0.5% |
| 39 | Miscellaneous meat (preserved/prepared) | $153,061,000 | -1.1% |
| 40 | Medication mixes in dosage | $145,782,000 | +3.2% |
| 41 | Whole fish (fresh) | $99,667,000 | +38.6% |
| 42 | Bread, biscuits, cakes, pastries | $128,876,000 | +7.1% |
| 43 | Chocolate, other cocoa preparations | $117,048,000 | +9.2% |
| 44 | Iron ores, concentrates | $115,204,000 | +9.8% |
| 45 | Buttermilk, yogurt | $124,531,000 | +0% |
| 46 | Miscellaneous meat | $115,582,000 | +6.9% |
| 47 | Inedible meat flour | $131,078,000 | -6.7% |
| 48 | Aircraft, spacecraft | $154,449,000 | -20.8% |
| 49 | Piston engines | $10,330,000 | +1013% |
| 50 | Frozen vegetables | $2,769,000 | +3805% |
| 51 | Temperature-change machines | $91,444,000 | +17.6% |
| 52 | Onions, garlic, leeks | $89,488,000 | +17% |
| 53 | Live horses, mules | $106,106,000 | -5.3% |
| 54 | Cars | $67,904,000 | +44.4% |
| 55 | Aluminum waste, scrap | $4,868,000 | +1912% |
| 56 | Miscellaneous animal products | $86,994,000 | +12.2% |
| 57 | Coated paper | $93,003,000 | +0.9% |
| 58 | Computers, optical readers | $51,416,000 | +79.7% |
| 59 | Electro-medical equip (e.g. xrays) | $49,512,000 | +82.3% |
| 60 | Miscellaneous engines, motors | $33,527,000 | +163.4% |
| 61 | Peptones, other protein subtances, derivatives | $82,357,000 | +6.2% |
| 62 | Magnets including electro-magnets | $88,202,000 | -2.3% |
| 63 | Automobile parts/accessories | $81,211,000 | +4% |
| 64 | Plastic packing goods, lids, caps | $46,386,000 | +77.1% |
| 65 | Dishwashing, clean/dry/fill machines | $53,513,000 | +39% |
| 66 | Sauces, mixed condiments, seasonings | $68,080,000 | +7.9% |
| 67 | Bovine, sheep, goat fats | $74,493,000 | -1.4% |
| 68 | Harvest/threshing machinery | $92,936,000 | -21.8% |
| 69 | Miscellaneous machinery | $75,096,000 | -3.7% |
| 70 | Copper waste, scrap | $34,806,000 | +93.2% |
| 71 | Plastic tableware, kitchenware, toiletry | $56,453,000 | +18.9% |
| 72 | Beauty/makeup/skin care preparations | $82,128,000 | -19% |
| 73 | Aircraft or spacecraft parts | $60,742,000 | +8.3% |
| 74 | Uncoated kraft paper | $13,356,000 | +388.1% |
| 75 | Yachts, other pleasure/sports vessels | $57,987,000 | +9.2% |
| 76 | Miscellaneous plastic items | $83,228,000 | -25.6% |
| 77 | Other prepared/preserved vegetables (non-frozen) | $55,115,000 | +10.8% |
| 78 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $35,333,000 | +72.6% |
| 79 | Semi-chemical woodpulp | $28,135,000 | +114% |
| 80 | Agriculture/horticulture/forestry machines | $88,503,000 | -33% |
| 81 | Apricots, cherries, peaches, nectarines, plums | $106,611,000 | -44.7% |
| 82 | Sugar confectionery (no cocoa) | $54,786,000 | +7.2% |
| 83 | Jewelry | $63,476,000 | -7.8% |
| 84 | Bovine/equine rawhides, skins | $25,748,000 | +123.4% |
| 85 | Other prepared/preserved vegetables (frozen) | $62,646,000 | -9.6% |
| 86 | Lifting/loading machinery | $55,607,000 | +0.2% |
| 87 | Machinery parts | $41,091,000 | +34.3% |
| 88 | Ice cream, other edible ice | $41,526,000 | +32.7% |
| 89 | Electrical machinery | $56,804,000 | -3.3% |
| 90 | Soups, broths | $38,798,000 | +34.1% |
| 91 | Industrial preparation machinery | $48,384,000 | +7.5% |
| 92 | Ivory, tortoiseshell, whalebone | $28,605,000 | +80.3% |
| 93 | Miscellaneous fresh/chilled vegetables | $76,418,000 | -34.4% |
| 94 | Fruit and vegetable juices | $37,695,000 | +32.3% |
| 95 | Flat-rolled iron or non-alloy steel products (plated/coated) | $44,792,000 | +11.3% |
| 96 | Milking machines, other dairy equipment | $58,893,000 | -15.7% |
| 97 | Tufted carpets/textile floor coverings | $58,749,000 | -16.2% |
| 98 | Shaped wood | $39,150,000 | +25.3% |
| 99 | Orthopedic appliances | $51,561,000 | -5.9% |
| 100 | Goldsmith's or silversmiths' items | $15,772,000 | +203.4% |
These 100 exported goods were worth a subtotal of US$37.4 billion or 88.1% by value for all products exported from New Zealand during 2024.
Products Generating the Greatest Trade Surpluses
The following types of New Zealand product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Dairy, eggs, honey: US$12.2 billion (Up by 2% since 2023)
- Meat: $4.9 billion (Down by -4.3%)
- Wood: $2.54 billion (Down by -2.2%)
- Fruits, nuts: $2.54 billion (Up by 38.8%)
- Cereal/milk preparations: $1.2 billion (Up by 9.1%)
- Fish: $1.1 billion (Up by 3.3%)
- Modified starches, glues, enzymes: $1 billion (Down by -14.2%)
- Beverages, spirits, vinegar: $983.2 million (Up by 1.8%)
- Aluminum: $518.9 million (Down by -9.4%)
- Gems, precious metals: $462.9 million (Up by 163.5%)
New Zealand has highly positive net exports in the international trade of agricultural products. In turn, these cashflows indicate New Zealand’s strong competitive advantages under the dairy, eggs and honey category–particularly for milk, cream, butter and cheese.
Products Causing the Biggest Trade Deficits
New Zealand garnered a -US$4.4 billion trade deficit for 2024, shrinking by -56.7% from -$10.2 billion in red ink in 2023.
Below are exports from New Zealand that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country New Zealand’s goods trail the island country’s import purchases.
- Mineral fuels including oil: -US$5.9 billion (Down by -13% since 2022)
- Machinery including computers: -$5.1 billion (Down by -10%)
- Vehicles: -$4.9 billion (Down by -28.2%)
- Electrical machinery, equipment: -$3.3 billion (Down by -11.7%)
- Plastics, plastic articles: -$1.3 billion (Up by 1.4%)
- Aircraft, spacecraft: -$1.03 billion (Up by 1.3%)
- Pharmaceuticals: -$1.02 billion (Down by -10.3%)
- Optical, technical, medical apparatus: -$843.3 million (Down by -23.2%)
- Furniture, bedding, lighting, signs, prefab buildings: -$794.2 million (Up by 0.2%)
- Food industry waste, animal fodder: -$644.8 million (Up by 27.2%)
New Zealand has highly negative net exports and therefore deep international trade deficits notably for refined petroleum oils, petroleum gases and petroleum coke.
These cashflow deficiencies clearly indicate New Zealand’s competitive disadvantages on international markets for mineral fuels including oil.
Major New Zealand Export Companies
The NZX50 Index is the main stock market index for New Zealand. Based on that index, the following companies are among leading stock companies in New Zealand that have the highest capitalization values.
- The a2 Milk Company Limited (dairy products)
- Steel & Tube Holdings Limited (building materials)
- Nuplex Industries Limited (resins for decorative/industrial/protective coatings)
- Coats Group PLC (sewing supplies, zippers, fasteners)
- Kathmandu Holdings Limited (outdoor clothing, equipment)
- Mainfreight Limited (logistics, transportation)
- Australia and New Zealand Banking Group (financial services)
In macroeconomic terms, New Zealand’s total exported goods represent 15% of its overall Gross Domestic Product for 2024 ($283.9 billion valued in Purchasing Power Parity US dollars). That 15% for exports to overall GDP in PPP for 2024 compares to 14.3% for 2023. Those percentages suggest a relatively increasing reliance on products sold on international markets for New Zealand’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. New Zealand’s unemployment rate averaged 5.132% for 2024, up from the average 3.725% jobless rate one year earlier according to International Monetary Fund statistics.
See also New Zealand’s Top Trading Partners, New Zealand’s Top 10 Imports and Top Oceanian Export Countries
Research Sources:
Central Intelligence Agency, The World FactbookCountry Profiles. Accessed on February 28, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 28, 2025
International Trade Centre, Trade Map. Accessed on February 28, 2025
Investopedia, Net Exports Definition. Accessed on February 28, 2025
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on February 28, 2025
Wikipedia, Gross domestic product. Accessed on February 28, 2025
Wikipedia, List of companies of New Zealand. Accessed on February 28, 2025
Wikipedia, NZX 50 Index. Accessed on February 28, 2025
Wikipedia, Purchasing power parity. Accessed on February 28, 2025
X-rates.com, Exchange Rates: New Zealand Dollar to US Dollar (monthly average 2024). Accessed on February 28, 2025