US Now New Zealand's Second Largest Export Partner

The United States (US) was the second largest export destination for New Zealand goods in 2024, with a total value of $9.0 billion, according to figures released by Stats NZ today. The US overtook Australia but remains behind China.

"Although the US is our second largest export partner, New Zealand ranks outside the top 50 countries from which the US purchases goods," international accounts spokesperson Viki Ward said.

New Zealand exports to the US surpassed $9.0 billion for the first time in 2024, with the US receiving 12 percent of our total exports by value ($71.0 billion). By comparison, in the year ended December 2014, the US received 9.4 percent ($4.7 billion) of New Zealand's total goods export value ($50.1 billion).

"Over the past decade, the value of exports to the US has nearly doubled. This is driven by US purchases of NZ meat which now make up 3.7 percent of our total exports," Ward said.

Exports of meat to the US overtook China in 2024 at $2.6 billion worth of trade, up 17 percent on 2023. Meat exports to China fell 32 percent to $2.1 billion in 2024.

US preference for NZ meat is predominantly chilled and frozen beef at $1.8 billion in trade value, with sheep meat lower at $626 million in value.

"The quantity of meat exports to the US increased by 6.2 percent in 2024, with the largest change a 26 percent increase in sheep meat exports," Ward said.

Dairy exports are the next largest component, with the US receiving $883 million worth of milk powder, butter, and cheese in 2024. It also received $338 million worth of casein exports (casein is extracted from milk).

The proportion of butter and milk components in our dairy exports to the US is higher than other major destinations like China, which tend to buy more milk powder.

Other major exports to the US in 2024 were $702 million of wine, and $687 million of mechanical machinery and equipment. This category includes products such as agricultural machinery (for example, harvesting machines and grading or sorting machines for fruits), engines, and machine tools.