New Zealand's exports reached more that $80 billion for the first time last year, but we did still import slightly more than we exported

Our primary sector has had a strong year and that has helped lead to our annual exports topping the $80 billion mark for the first time.

The value of our exports was $80.7 billion, which was up $9.9 billion (14%), compared with the figures for 2024, according to Stats NZ.

Imports were actually higher - not unusually - at $82.9 billion, but this was not a record high. And the trade deficit for the year, at $2.2 billion, was down from $7.9 billion in 2024 and is the lowest for a long time, apart from a $2.4 billion surplus during the pandemic-hit 2020 calendar year.

Stats NZ international accounts spokesperson Viki Ward said milk powder, butter, and cheese led the rise in exports, up $4.2 billion (21%) to $24.3 billion in the year ended December 2025.

Milk powder, up $1.6 billion, and milk fats (including butter), up $1.4 billion, were the main contributors to the rise in milk powder, butter, and cheese in the year ended December 2025, compared with December 2024.

Ward did say, however, that the increase in milk, cheese, and butter was "primarily due to higher unit prices for these items".

"Milk powder, butter, and cheese made up 30% of annual exports in December 2025."

In terms of the December 2025 month, goods exports, at $7.7 billion, rose by $991 million (15%) compared with December 2024.

Goods imports, at $7.6 billion, rose in very similar fashion, by $975 million (15%), compared with December 2024.

This gave a small trade surplus of $52 million, but that was nevertheless the largest December surplus since the $230 million recorded in December 2020.