Continued strong annual growth in export of dairy products, fruit and forest products has seen NZ record five consecutive monthly goods trade surpluses for the first time since the pandemic affected 2020

The primary sector's continued strong performance saw New Zealand record its fifth consecutive monthly goods trade surplus in June.

It was the first time since the pandemic-affected trade in 2020 that New Zealand had racked up five consecutive surpluses. However, the latest one was the smallest of the five - at just $142 million and well down on the $1 billion-plus surpluses in both April and May.

Statistics New Zealand reported that in June 2025 compared with June 2024 our goods exports rose by $601 million (10%), to $6.63 billion, while goods imports rose by $1.04 billion (19%), to $6.49 billion.

One interesting thing to note within the data was New Zealand's exports to the United States, which of course announced tariffs in April. 

While our imports from the US were up 20.6% in June compared with the same month in 2024 at $636 million, our exports dropped 8.8% to $753 million. The drop in exports followed a 5.1% fall in May compared with May 2024, while in April there had been a 21.8% year-on-year rise and in March a 19.2% rise.

Meat is a significant export from NZ to the US and it's worth noting that after four consecutive months of topping $1 billion in exports for meat, the figure in June was just $814 billion, albeit that this was up slightly on the figure in June 2024.

In terms of the total exports, the top export destination in June 2025 was still China, up 10.8% (compared with June 2024) to $1.539 billion, while Australia moved ahead of the US into second place with $807 million in the month of June, up 15.5% on June 2024.

As ever, in June 2025, our 'star' export was dairy products, with $1.805 billion worth exported, up $323 million, or 22% on the same month a year ago. Biggest contributor within the dairy products group was milk powder, with $860 million worth exported.

In the month, dairy products made up 27.7% of the $6.63 billion total export figure.

And in fact, if you add in $814 million for meat, $738 million for fruit and $429 million for forest products, these four primary industry stars made up over 57% of the total exported.

It's the same if we look at the annual picture. In the 12 months to June, total exports were $76.364 billion, up 11.4% on the 12 month period to June 2024.

Of the total in the 12 months to June 2025, dairy products exports were $22.818 billion, up 20.1% on the year.

And across the whole 12 months to June 2025, dairy products accounted for 29.9% of the total exports.

Looking at the 'big four' of dairy, meat, fruit and forestry, these accounted for 56.5% of all the exports in the 12 month period.

Special mention is due for fruit exports, which at $5.741 billion across the 12 months, were up $1.726 billion, or 43% on the previous 12 month period.