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Trade and Economic Update
Korea deepens energy and minerals cooperation with Central Asia
Korea agreed to expand cooperation on critical minerals, energy and industrial investment at its first summit with five Central Asian countries in Seoul on 16 September. Meetings with Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan and Tajikistan over 14–16 September produced more than 70 agreements and memorandums of understanding. The agenda extends beyond importing raw materials: industry ministers agreed to pursue local refining, smelting and advanced materials production, combining Central Asian resources, including lithium and rare earths, with Korean technology. They also supported greater Korean participation in industrial complexes, infrastructure and factory modernisation. Leaders agreed to hold summits every two years, with Kazakhstan hosting in 2028.
Costa Rica joins the Digital Economy Partnership Agreement (DEPA)
Costa Rica has officially become the fifth member of the Digital Economy Partnership Agreement (DEPA), marking the further expansion of the groundbreaking digital trade agreement originally established by New Zealand, Chile and Singapore in 2020. The DEPA commits Parties to ambitious disciplines on digital trade to advance the growth of an inclusive, innovative, and rules-based digital economy. It also provides a platform for collaboration on projects of mutual interest.
The expansion of DEPA to include Costa Rica, an economy which meets all of the Agreement’s high standards, will strengthen the Agreement and provide Parties with greater opportunities to collaborate on digital economy initiatives.
See the joint press release: Joint Press Release on the successful accession of Costa Rica to the Digital Economy Partnership Agreement | New Zealand Ministry of Foreign Affairs and Trade(external link)
New Zealand goods exports to China in financial year 2026
Total New Zealand goods exports to China were up 4.3% to NZ$19.8 billion in the year to June 2026 (FY26), compared to a 10% overall increase in New Zealand’s global goods exports in the same period. This is almost back up to the 2023 peak (NZ$20.4 billion). Two-way trade has totalled a new record of NZ$44 billion. The growth in goods exports has been driven by food and beverage (F&B) exports, up from a recent low of $12.9 billion in FY24 to $15.5 billion in FY26. Non-F&B has continued in the $4.1-5.6 billion band since 2017, with $4.5 billion exported in FY26.
The “Big Four” (dairy, forestry, meat and fruit) categories make up nearly 88% of New Zealand’s total exports to China: dairy (51.1%); forestry (16.7%); meat (12.7%), and fruit (7.1%). Several small but prominent categories – including wine, wool, petfood, health supplements, honey, etc – make up the remaining 12%.
Market reports released this week
A full list of global economic round-ups can be found here(external link)
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External links
The following links may provide useful information to businesses:
NZTE’s website(external link) and their myNZTE(external link) provides a range of insights and tools available to support New Zealand exporters.
The Treasury releases a weekly economic update(external link) every Friday. Stats NZ has published a data portal(external link) with near real-time economic indicators.
MBIE publishes a sector reports series(external link) which provides regularly updated reports on all industry sectors that make up the New Zealand economy. These include official economic data and the challenges and opportunities that face New Zealand’s industry sectors.
Business.govt.nz(external link) provides tools and advice from across government to save small businesses’ time and help make the business a success.
MFAT has created a tariff finder(external link) which is designed to help goods exporters and importers maximise benefits from New Zealand’s Free Trade Agreements and compare tariffs in 136 other markets.
The all of government Trade Barriers(external link) website can be used to register any trade barriers experienced or issues exporting to an offshore market. Queries can be sent via the website or through the MFAT Exporter Helpline 0800 824 605. Enquiries will be sent to the government agency best placed to answer.
Tatauranga Aotearoa Stats NZ provides official data on the value of New Zealand’s exports and imports of both goods and services, by commodity type via the New Zealand Trade Dashboard(external link). This interactive dashboard is updated every quarter and allows for filtering by country and by commodity type.
Learn more about exporting
New Zealand Trade & Enterprise’s comprehensive market guides(external link) cover export regulations, business culture, market-entry strategies and more.
Disclaimer
This information released in this report aligns with the provisions of the Official Information Act 1982. The opinions and analysis expressed in this report are the author’s own and do not necessarily reflect the views or official policy position of the New Zealand Government. The Ministry of Foreign Affairs and Trade and the New Zealand Government take no responsibility for the accuracy of this report.
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