New Zealand and the United States are partners in the ongoing Trans-Pacific Partnership (TPP) negotiations. In this negotiation, the United States is seeking to develop a high-standard, 21st-century regional trade agreement that will support the creation and retention of jobs in the United States and promote economic growth. In addition to the United States and New Zealand, the TPP negotiating partners include Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, Peru, Singapore, and Vietnam. Starting with a group of like-minded countries, the goal is to expand the agreement to include countries across the Asia Pacific, which together represent more than half of global output and over 40 percent of world trade.
U.S.-New Zealand Trade Facts
U.S. goods and services trade with New Zealand totaled $11 billion in 2011. Exports totaled $5.7 billion; imports totaled $5.0 billion. The U.S. goods and services trade surplus with New Zealand was $709 million in 2011.
New Zealand is currently our 56th largest goods trading partner with $6.7 billion in total (two ways) goods trade during 2012. Goods exports totaled $3.2 billion; goods imports totaled $3.4 billion. The U.S. goods trade deficit with New Zealand was $209 million in 2012.
Trade in services with New Zealand (exports and imports) totaled $3.9 billion in 2011 (latest data available). Services exports were $2.1 billion; services imports were $1.8 billion. The U.S. services trade surplus with New Zealand was $301 million in 2011.
New Zealand was the United States’ 52nd largest goods export market in 2012.
U.S. goods exports to New Zealand in 2012 were $3.2 billion, down 9.6% ($348 million) from 2011.
The top export categories (2-digit HS) in 2012 were: Aircraft ($491 million), Machinery ($475 million), Vehicles ($255 million), Special Other (low value shipment) ($255 million), and Optic and Medical Instruments ($183 million).
U.S. exports of agricultural products to New Zealand totaled $371 million in 2012. Leading categories include: dairy products ($108 million), fresh fruit ($35 million), and vegetables ($17 million).
U.S. exports of private commercial services (i.e., excluding military and government) to New Zealand were $2.1 billion in 2011 (latest data available), 16.6% ($301 million) more than 2010 and 90% greater than 2000 levels. Other private services (financial and business, professional and technical services) and travel categories accounted for most of U.S. exports in 2011.
New Zealand was the United States’ 56th largest supplier of goods imports in 2012.
U.S. goods imports from New Zealand totaled $3.4 billion in 2011, up 8.7% ($276 million) from 2011.
The five largest import categories in 2012 were: Meat (frozen beef) ($963 million), Albumins, Modified Starch and Glue (mostly caseins) ($382 million), Dairy, Eggs, and Honey (milk protein concentrate) ($361 million), Beverages (wine) ($264 million), and Machinery ($201 million).
U.S. imports of agricultural products from New Zealand totaled $2.3 billion in 2012, the 13th largest supplier of agricultural imports. Leading categories include: red meats, fresh/chilled/frozen ($988 million), dairy products (excluding cheese) ($734 million), and wine and beer ($254 million).
U.S. imports of private commercial services (i.e., excluding military and government) were $1.8 billion in 2011, 2.1% ($38 million) up from 2010, and up 55% from 2000 levels. Travel and other private services (business, professional, and technical services and financial services) categories accounted for most of U.S. services imports from New Zealand.
The U.S. goods trade deficit with New Zealand was $209 million in 2012. In 2011, the United States had a goods trade surplus with New Zealand of $408 million.
The United States had a services trade surplus of $301 million with New Zealand in 2011, up 692% from 2010.
U.S. foreign direct investment (FDI) in New Zealand (stock) was $6.7 billion in 2011, up 8.7% from 2010. U.S. direct investment in New Zealand is mostly in the manufacturing, finance/insurance, and nonbank holding companies sectors.
New Zealand’s FDI in the United States (stock) was $1.7 billion in 2011, up 184.2% from 2010. New Zealand’s FDI in the United States is led by the wholesale trade and manufacturing sectors.
Sales of services in New Zealand by majority U.S.-owned affiliates were $2.7 billion in 2010 (latest data available), while sales of services in the United States by majority New Zealand-owned firms were $270 million.