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 $10 billion in 2012 (latest data available). Exports totaled $5.2 billion; Imports totaled $5.3 billion. The U.S. goods and services trade deficit with New Zealand was $60 million in 2012.
New Zealand is currently our 55th largest goods trading partner with $6.7 billion in total (two ways) goods trade during 2013. Goods exports totaled $3.2 billion; Goods imports totaled $3.5 billion. The U.S. goods trade deficit with New Zealand was $260 million in 2013.
Trade in services with New Zealand (exports and imports) totaled $3.9 billion in 2012 (latest data available). Services exports were $2.0 billion; Services imports were $1.9 billion. The U.S. services trade surplus with New Zealand was $149 million in 2011.
New Zealand was the United States’ 52nd largest goods export market in 2013.
U.S. goods exports to New Zealand in 2013 were $3.2 billion, down 0.1% ($4 million) from 2012, but up 74% from 2003.
The top export categories (2-digit HS) in 2013 were: Aircraft ($493 million), Machinery ($457 million), Special Other (low value shipment) ($268 million), Vehicles ($240 million), and Electrical Machinery ($184 million).
U.S. exports of agricultural products to New Zealand totaled $395 million in 2013. Leading categories include: dairy products ($119 million), fresh fruit ($35 million), and prepared food ($30 million).
U.S. exports of private commercial services* (i.e., excluding military and government) to New Zealand were $2.0 billion in 2012 (latest data available), 6.7% ($146 million) less than 2011 but 119% greater than 2002 levels. Other private services (financial and business, professional and technical services) and travel categories accounted for most of U.S. exports in 2012.
New Zealand was the United States’ 57th largest supplier of goods imports in 2013.
U.S. goods imports from New Zealand totaled $3.5 billion in 2013, up 1.4% ($47 million) from 2012, and up 45% from 2003.
The five largest import categories in 2013 were: Meat (frozen beef) ($984 million), Albumins, Modified Starch and Glue (mostly caseins) ($323 million), Beverages (wine) ($296 million), Dairy, Eggs, and Honey (milk protein concentrate) ($282 million), and Special Other (returns) ($231 million).
U.S. imports of agricultural products from New Zealand totaled $2.2 billion in 2013, the 14th largest supplier of Ag imports. Leading categories include: red meats, fresh/chilled/frozen ($984 million), dairy products (excluding cheese) ($581 million), and wine and beer ($286 million).
U.S. imports of private commercial services* (i.e., excluding military and government) were $1.9 billion in 2012 (latest data available), 6.5% ($116 million) up from 2011, and up 103% from 2002 levels. Travel, passenger fees, and other private services (business, professional, and technical services) categories accounted for most of U.S. services imports from New Zealand.
The U.S. goods trade deficit with New Zealand was $260 million in 2013, up 24.7% from 2012.
The United States had a services trade surplus of $149 million with New Zealand in 2012 (latest data available), down 64% from 2011.
U.S. foreign direct investment (FDI) in New Zealand (stock) was $9.5 billion in 2012 (latest data available), up 19.4% from 2011.
U.S. direct investment in New Zealand is mostly in the finance/insurance and manufacturing sectors
New Zealand FDI in the United States (stock) was $1.7 billion in 2012 (latest data available), down 1.5% from 2011.
Reported New Zealand FDI in the United States was led by the manufacturing and wholesale trade sectors.
Sales of services in New Zealand by majority U.S.-owned affiliates were $3.9 billion in 2011 (latest data available), while sales of services in the United States by majority New Zealand-owned firms were $345 million.
*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services