What are NZ’s biggest exports to the US?
Source: dairynews.today
An exploration of New Zealand's key exports to the United States amidst the uncertainty imposed by US tariffs under President Donald Trump.
Exporters around the world are still digesting exactly what US President Donald Trump's moving array of tariffs will mean for them and their businesses. But what are New Zealand’s biggest exports to the US, and how might they be affected? Last year, exports of goods to the US were worth just under $9 billion, accounting for 12.7 percent of all goods exported, making the US a significant destination for New Zealand's exports.
1. Beef – $1.8 billion
Westpac chief economist Kelly Eckhold highlighted lean beef exports' importance as the US imports it to mix with fattier beef for burgers and mince, making it challenging for Americans to replace. Gareth Kiernan, chief forecaster at Infometrics, confirmed that beef was a significant part of exports, with 42 percent of New Zealand’s beef exports heading to the US.
2. Dairy – $982.9 million
Eckhold identified the impact of US-China tariffs on dairy trade as an area of concern, which could disrupt significant trade between the US and China, potentially benefiting New Zealand if China seeks new suppliers.
3. Beverages – $742.7 million
Wine is the primary beverage export. Kiernan noted potential US tariffs could see consumers switch to US-produced wines like Californian zinfandel, given recent trends of declining demand.
New Zealand’s fruit exports like kiwifruit and apples supplement the US's off-seasons, yet possible tariffs could price these out of the market. ASB chief economist Nick Tuffley added that future tariff plans would impact exporters' strategies and decisions on potential US operations. Uncertainty over the tariffs’ longevity adds a layer of complexity for management decisions.
1. Beef – $1.8 billion
Westpac chief economist Kelly Eckhold highlighted lean beef exports' importance as the US imports it to mix with fattier beef for burgers and mince, making it challenging for Americans to replace. Gareth Kiernan, chief forecaster at Infometrics, confirmed that beef was a significant part of exports, with 42 percent of New Zealand’s beef exports heading to the US.
2. Dairy – $982.9 million
Eckhold identified the impact of US-China tariffs on dairy trade as an area of concern, which could disrupt significant trade between the US and China, potentially benefiting New Zealand if China seeks new suppliers.
3. Beverages – $742.7 million
Wine is the primary beverage export. Kiernan noted potential US tariffs could see consumers switch to US-produced wines like Californian zinfandel, given recent trends of declining demand.
New Zealand’s fruit exports like kiwifruit and apples supplement the US's off-seasons, yet possible tariffs could price these out of the market. ASB chief economist Nick Tuffley added that future tariff plans would impact exporters' strategies and decisions on potential US operations. Uncertainty over the tariffs’ longevity adds a layer of complexity for management decisions.
