New Zealand is a highly developed agricultural country but not a rice-producing nation, which presents significant opportunities for Vietnamese rice exports to expand in this market.
Agricultural and Aquatic Products Dominate Vietnam’s Exports to New Zealand
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In 2024, total trade between Vietnam and New Zealand reached NZD 2.7 billion (USD 1.8 billion), an increase of 8.9% compared with 2023 (NZD 2.46 billion).
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Vietnam’s exports to New Zealand: NZD 1.75 billion, up 13.6%, ranking 11th among New Zealand’s top import partners.
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Vietnam’s imports from New Zealand: NZD 933 million, slightly down 0.6%.
Vietnam’s key export products to New Zealand include machinery, electronics, textiles, and a large proportion of seafood (such as shrimp and pangasius) and nuts (cashew, coffee, etc.).
Conversely, Vietnam primarily imports dairy products, meat, and raw timber from New Zealand — materials that are often reprocessed into furniture for re-export, including back to the New Zealand market.
High Potential for Rice and Agricultural Products
According to Ms. Tran Dieu Oanh, Trade Counselor at the Vietnam Trade Office in New Zealand, the country’s economy is driven by advanced agriculture, agricultural technology, and sustainable production systems, but it imports most of its cereals, including rice.
“New Zealand is not a rice-producing country due to unsuitable climate conditions,” Ms. Oanh noted. The majority of its rice is imported from Australia, Thailand, and India, leaving room for Vietnamese rice to penetrate and expandin the market.
To succeed, Vietnamese exporters should study consumer habits and packaging preferences in New Zealand.
“Rice is typically sold in small packages of 2–10 kg, with multilingual labeling in English, Chinese, Vietnamese, and Thai,” Ms. Oanh added.
Seafood, Wood, and Processed Products Also Have Growth Opportunities
Alongside rice, Vietnamese seafood still has ample export potential. New Zealand possesses a vast exclusive economic zone (EEZ) of 3.1 million km², rich in marine resources, especially deep-sea fish, squid, and tuna.
Although New Zealand is a major seafood exporter, it also imports various aquatic products, including from Vietnam.
Key Vietnamese seafood exports to New Zealand include shrimp, frozen fish fillets, squid, octopus, and crab.
Additionally, wood and wood-based products represent another promising area for bilateral business cooperation.
New Zealand’s forestry and wood industries contribute 1.3% of its GDP, with about 70% of timber sourced from planted forests. Main exports include logs, wood pulp, sawn timber, panels, paper, and handcrafted wooden products.
Vietnam primarily imports sawn timber, plywood, and logs from New Zealand — vital inputs for the domestic furniture manufacturing industry, which then exports finished goods globally.
FTAs Provide Strong Legal and Economic Foundations
According to Trade Counselor Tran Dieu Oanh, economic and trade cooperation between Vietnam and New Zealand is expected to grow significantly, driven by Free Trade Agreements (FTAs) that both countries participate in, such as:
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CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership)
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AANZFTA (ASEAN–Australia–New Zealand Free Trade Area)
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RCEP (Regional Comprehensive Economic Partnership)
These FTAs and cooperation frameworks create a robust legal foundation for enhancing bilateral trade and investment.
With complementary economic strengths, Vietnam and New Zealand can jointly develop global value chains, increase the added value of export products, and contribute to the stability and prosperity of the Asia–Pacific region.