International Trade: September 2024 Quarter

International trade statistics provide information on imports and exports of goods and services between New Zealand and our trading partners.

Key facts

Quarterly goods and services by country

  • Total exports of goods and services for the September 2024 quarter were $22.2 billion, up from $21.5 billion in the September 2023 quarter.
  • Total imports of goods and services for the September 2024 quarter were $29.1 billion, the same as the September 2023 quarter.
  • The total two-way trade for the September 2024 quarter was $51.3 billion.

New Zealand international trade dashboard shows quarterly exports and imports data for goods and services by country and commodity type.

The diagram shows two-way trade was up 1.3 percent to $51.3 billion. See link to text alternative under image.

Text alternatve for Goods and services exports and imports, September 2024 quarter compared with September 2023 quarter.

Total services exports fell $43 million to $6.5 billion in the September 2024 quarter compared with the September 2023 quarter.

The top movements of our services export categories in the September 2024 quarter compared with the September 2023 quarter were:

  • travel services, up $172 million to $2.8 billion
  • other business services, up $120 million to $885 million
  • charges for the use of intellectual property services, up $74 million to $498 million
  • telecommunication services, up $28 million to $510 million
  • transportation services, down $35 million to $848 million.

Total service imports rose $552 million to $8.5 billion in the September 2024 quarter compared with the September 2023 quarter.

The top movements of our services import categories in the September 2024 quarter compared with the September 2023 quarter were:

  • travel services, up $164 million to $2.1 billion
  • telecommunication services, up $100 million to $1.0 billion
  • insurance and pension services, up $94 million to $943 million
  • other business services, up $80 million to $1.4 billion
  • charges for the use of intellectual property services, up $45 million to $517 million.

Overseas trade indexes (OTI)

Movements are compared with the June 2024 quarter. All prices are unadjusted; all volumes and values are seasonally adjusted unless otherwise stated.

  • The merchandise (goods) terms of trade rose 2.4 percent.
  • Export prices for goods rose 0.7 percent and import prices fell 1.7 percent.
  • Export volumes for goods fell 1.8 percent and import volumes rose 3.0 percent.
  • Export values for goods fell 0.3 percent and import values rose 1.1 percent.
  • The services terms of trade fell 0.9 percent.
  • Services export prices rose 0.7 percent, while import prices rose 1.7 percent.

Diagram shows the terms of trade rose 2.4 percent, where export prices rose 0.7 percent and import prices fell 1.7 percent.  See link to text alternative under image.

Text alternative for OTI merchandise imports and exports, September 2024 quarter compared with June 2024 quarter.

International Trade in Services & Royalties Survey (ITSS) data quality update

In the September 2024 quarter, the overall response rate was 76 percent, below the target response rate of 80 percent. The response rate for key firms was 96 percent, below the target response rate of 100 percent.

Declining response rates resulted in a higher level of imputation. We conducted additional quality assessment checks for any bias in the non-responding units to ensure our imputation model still holds. We found no concerns and ITSS data remained fit for purpose.

Late responses will be processed and revised for next quarter.

Text alternative for goods and services exports and imports, September 2024 quarter compared with September 2023 quarter

The diagram shows two-way trade was up 1.3 percent to $51.3 billion. On the left-hand side of the diagram, total exports were up 2.9 percent to $22.2 billion. Goods exports were up 4.4 percent to $15.7 billion, and services exports were down 0.7 percent to $6.5 billion. On the right-hand side of the diagram, total imports were stable at $29.1 billion. Goods imports were down 2.6 percent to $20.6 billion, and services imports were up 6.9 percent to $8.5 billion. Note: Figures are compiled using balance of payments concepts.

Text alternative for OTI merchandise imports and exports, September 2024 quarter compared with June 2024 quarter

Diagram shows the terms of trade rose 2.4 percent, where export prices rose 0.7 percent and import prices fell 1.7 percent. The value of exports fell 0.3 percent to $16.6 billion. Flowing into this were export volumes which fell 1.8 percent, and export prices which rose 0.7 percent. The value of imports rose 1.1 percent to $19.2 billion. Flowing into this were import volumes which rose 3.0 percent, and import prices which fell 1.7 percent. Note that the volumes and values series are seasonally adjusted. Source: Stats NZ

More data

Use Infoshare to access time-series data.

Goods trade data

Subject category: Imports and exports

Group: Exports - summary data
Group: Imports - summary data
Group: Overseas trade statistics
Group: Re-exports - summary data

Overseas trade indexes

Subject category: Imports and exports

Group: Overseas trade indexes - prices - OTP
Group: Overseas trade indexes - volumes and values - OTV

Definitions and metadata

International trade statistics - DataInfo+ has metadata, methodologies, and definitions used in this release.

Technical enquiries (goods and services by country)

Scott Wernham
03 964 8910
[email protected]

Technical enquiries (overseas trade indexes)

Elijah Griffiths
04 931 4688
[email protected]

ISSN 2703-6618

Next release

International trade: December 2024 quarter will be released on 3 March 2025.

/Stats NZ Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.