New Zealand's external balance on goods and services (current LCU) was -5.4 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 374.49% from 1.97 billion in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -5.4 billion | 2024 |
| Five years earlier | 580 million | 2019 |
| Ten years earlier | 1.97 billion | 2014 |
| Highest | 4.67 billion | 2001 |
| Lowest | -20.15 billion | 2022 |
| Average since 2015 | -4.39 billion | 2015–2024 |
| First recorded | -173.35 million |
What the numbers say
In 2024, New Zealand's external balance on goods and services (current LCU) rose 5.47 billion on 2023 (from -10.88 billion to -5.4 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was −465.43 million and a typical year strayed about 3.47 billion from that (the standard deviation). This year's change was 1.7 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 9.27 billion in 2023 and the biggest yearly fall was 11.89 billion in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is downward, about 1.93 billion a year. A straight line explains 55% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, New Zealand had the 22nd highest value of the 34 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to New Zealand in the 2024 ranking
- Fiji — 19th of 34: -1.37 billion
- Timor-Leste — 20th of 34: -1.39 billion
- Solomon Islands — 21st of 34: -4.05 billion
- Bolivia — 23rd of 34: -15.58 billion
- Vanuatu — 24th of 34: -35.09 billion
- Zimbabwe — 25th of 34: -44.35 billion
What this measures
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 55 values
| Year | External balance on goods and services (current LCU) |
|---|---|
| 2024 | -5,402,000,000 |
| 2023 | -10,875,000,000 |
| 2022 | -20,145,000,000 |
| 2021 | -13,503,000,000 |
| 2020 | -1,612,000,000 |
| 2019 | 580,000,000 |
| 2018 | -301,000,000 |
| 2017 | 2,636,000,000 |
| 2016 | 2,125,000,000 |
| 2015 | 2,597,000,000 |
External balance on goods and services (current LCU) in nearby economies
- American Samoa — -268 million (2022)
- Australia — 16.32 billion (2025)
- Brunei Darussalam — 3.84 billion (2025)
- Cambodia — 2.48 trillion (2025)
- China — 5.87 trillion (2025)
- Fiji — -1.37 billion (2024)
- French Polynesia — -194.1 billion (2024)
- Guam — -3.88 billion (2022)
- Hong Kong SAR, China — 95.62 billion (2025)
More economic policy & debt data for New Zealand
- Total reserves, including gold (current US$) — US$28.15 billion (2025)
- Total reserves, excluding gold (current US$) — US$28.15 billion (2025)
- GDP (current US$) — US$264.06 billion (2025)
- GDP (current LCU) — 449.8 billion (2025)
- GDP (constant 2015 US$) — US$220.1 billion (2025)
- GDP (constant LCU) — 359.52 billion (2025)
- GDP per capita (current US$) — US$49,591 (2025)
- GDP per capita (current LCU) — 84,475 (2025)
- GDP per capita (constant 2015 US$) — US$41,336 (2025)
- GDP per capita (constant LCU) — 67,519 (2025)
Reading data like this
Questions people ask
- What is New Zealand's external balance on goods and services (current LCU)?
- -5.4 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is down 3,016% from -173.35 million in 1970. The highest value was 4.67 billion in 2001 and the lowest -20.15 billion in 2022.
- How does New Zealand rank?
- 22nd highest of 34 economies with data for 2024.
- Is the latest change in external balance on goods and services (current LCU) unusual for New Zealand?
- In 2024, New Zealand's external balance on goods and services (current LCU) rose 5.47 billion on 2023 (from -10.88 billion to -5.4 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was −465.43 million and a typical year strayed about 3.47 billion from that (the standard deviation). This year's change was 1.7 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NE.RSB.GNFS.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
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