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Auckland, Oktober 20, 2026 – New Zealand’s economic ties with Southeast Asia deepened over the past year, as imports from the region climbed 15 percent to US$9 billion, underscoring ASEAN’s growing role in the country’s supply chain.
The surge was driven largely by higher fuel costs and expanding machinery trade, while exports to the bloc also rose, led by dairy shipments to Indonesia.
According to official data, imports from ASEAN reached NZ$16 billion in the year to September 2026, accounting for nearly 20 percent of New Zealand’s total NZ$92 billion import bill.
Fuel imports were the standout, rising 30 percent to NZ$5.5 billion, with Singapore and Malaysia supplying the bulk.
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Singapore alone contributed NZ$4 billion, while Malaysia added NZ$1.3 billion.
Together, ASEAN supplied 42 percent of New Zealand’s total fuel imports, reflecting both higher global prices and the region’s strategic role in energy trade.
Beyond energy, machinery and electronics imports also expanded sharply.
Mechanical machinery and equipment, including jet engines, turbines, and computers, rose 33 percent to NZ$1.3 billion.
Electrical machinery and equipment, such as phones, transformers, and insulation materials, increased 17 percent to NZ$1.5 billion.
Much of this growth was attributed to Vietnam and Thailand, which have become key manufacturing hubs for consumer electronics and industrial components.
Exports to ASEAN also strengthened, rising 11 percent to NZ$9.6 billion.
Dairy products led the charge, climbing 14 percent to NZ$5.7 billion.
Indonesia emerged as the largest ASEAN buyer, with imports of New Zealand dairy up 16 percent to NZ$1.5 billion.
ASEAN now represents New Zealand’s second largest dairy export market after China, accounting for a quarter of total dairy shipments.
The trade balance reflects both opportunities and vulnerabilities.
While export growth helped offset rising import costs, New Zealand’s reliance on ASEAN fuel supplies leaves it exposed to price volatility.
At the same time, the expansion of machinery and electronics imports signals deeper integration into ASEAN’s manufacturing networks, while dairy exports reinforce New Zealand’s agricultural strength in the region.
Looking ahead, policymakers face the challenge of balancing import dependency with efforts to expand export competitiveness in high value sectors.
Rising energy costs could pressure inflation and trade balances, but ASEAN’s dual role as supplier and consumer positions the bloc as a critical partner in New Zealand’s long-term trade strategy.
