The UK was New Zealand’s seventh largest trading partner pre-COVID, with two-way trade worth NZ$6 billion for the year to March 2020.
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New Zealand’s main goods exports to the UK include meat, wine, fruit, some machinery, eggs, honey and wool – a total of NZ$1.5 billion.
The main goods imports from the UK include vehicles and parts, machinery, equipment, and pharmaceuticals – a total of NZ$1.7 billion.
There is also substantial services trade, worth NZ$2.8 billion. New Zealand services exports to the UK are dominated by travel, transport and business services.
The United Kingdom is also our closest investment partner in Europe, both as an important source and destination for New Zealand investment.
Our goods trade is highly complementary and we benefit from strengths in different sectors.
- The UK is a leading supplier of vehicles, turbines and engines, and pharmaceutical products to New Zealand.
- The UK is one of the biggest global importers of food products and benefits from New Zealand’s counter-seasonal production of fresh produce and protein.
Once implemented, the NZ-UK FTA will remove:
- prohibitively high tariffs and restricted quota access for key meat and dairy exports
- £10-26 per hectolitre tariff on wine
- 16% tariff on honey
- tariffs of up to 20% on seafood products
- 8% tariffs on onions, kiwifruit and (at certain times of the year) apples.