Victoria’s closest international trading partner and one of the easiest markets in the world to do business with.

Global Victoria is strengthening its business engagement with New Zealand, with a particular focus on supporting early stage and expanding exporters.

Aotearoa New Zealand is Victoria’s third largest export market, with goods exports valued at more than A$2.7 billion. It consistently ranks among the easiest global economies in which to do business, making it a natural starting point for new exporters or Victorian businesses looking to grow and diversify their exports.

Market snapshot

Victoria and New Zealand share close economic, people-to-people sporting and cultural connections. Comparable business cultures, geographical proximity, regulatory alignment and similar time zones contribute to the ease of doing business between the two economies.

New Zealand’s economic profile is similar to Victoria’s, particularly in the primary sector, providing significant opportunities for partnerships, collaboration and knowledge sharing.

The Australia New Zealand Closer Economic Relations Trade Agreement (CER) is one of the most open free trade agreements in the world, underpinning the strong trading relationship between Victoria and New Zealand. In 2023, Australia and New Zealand will celebrate the 40th anniversary of CER.

The country’s population is concentrated in the North Island, with more than a third of residents living in Auckland. Like Victoria, New Zealand is a multicultural society, supporting strong connections between New Zealand and global markets.

Māori are the indigenous people of New Zealand, making up more than 15 per cent of the population. The Māori economy contributes $30 billion to New Zealand’s gross domestic product each year, representing significant opportunities for joint ventures and other partnerships – especially for Aboriginal businesses.

Market Update

New Zealand continues to experience subdued economic activity and weak demand, leading the Reserve Bank of New Zealand to cut the Official Cash Rate to 3.75% at its February meeting (a cut of 50 basis points). The first NZIER Quarterly Survey of Business Opinion release for 2025 showed business confidence continues to improve, despite persistent soft demand.

The New Zealand Government announced it is establishing a new Invest New Zealand entity to attract foreign direct investment into high-potential sectors to boost productivity and innovation. Invest New Zealand will work with multi-national corporations and foreign investors to attract people, businesses and capital into New Zealand across industries, with a particular focus on investment in the science, innovation and technology ecosystem. Victorian investors, including companies looking to set up a local presence in New Zealand, will be able to access support services provided by Invest New Zealand.

Investment services will continue to be provided by New Zealand Trade and Enterprise while the new entity is established. This builds upon the December 2024 announcement of a National Infrastructure Agency (NIFFCo), as the New Zealand Government’s investor shopfront for private capital investments into public infrastructure.

The New Zealand Government also convened an International Investment Summit in March 2025 to showcase upcoming investment and development opportunities to investors, business leaders and construction companies.

The 2025 New Zealand Budget will be released on 22 May 2025. Priority areas identified by the New Zealand Government for the Budget include:

  • Lifting economic growth through measures to address productivity challenges
  • Implementing a social investment approach
  • Keeping tight control of government spending while funding a limited number of high-priority Government policy commitments and cost pressures
  • Developing a sustainable pipeline of long-term infrastructure investments

Looking ahead

Fieldays: the Southern Hemisphere’s largest agricultural event returns to New Zealand on 11 to 14 June 2025, offering the ultimate launch platform for cutting edge agricultural technology and innovation.

Fine Food New Zealand: New Zealand’s largest trade event for the food retail, food service and hospitality industry is taking place in Auckland from 29 June to 1 July 2025.

Fine Food is a platform to make industry connections, enter the New Zealand market, launch new products and get up to speed on local trends.

Key industries of opportunity for Victorian exporters

Food and beverage

New Zealand is an important market for Victorian food and beverage exports, including in:

  • premium packaged foods
  • health foods
  • alternative proteins
  • wine
  • craft spirits
  • zero/low alcohol beverages.

Two companies dominate the grocery sector in New Zealand, Woolworths and FoodStuffs. Costco’s launch creates additional competition and opportunities in the sector, and further prospects exist in specialty grocery stores.

Technology and Creative Industries

New Zealand is home to an active tech innovation, investment and consumer landscape, creating both B2B and B2C opportunities for Victorian companies. Agri-tech, edtech, fintech and medtech are particularly promising sub-sectors. The screen and gaming industry in New Zealand is also an area of strength.

Sports and sports technology

Despite the fierce sporting rivalries between New Zealand and Australia, there are significant opportunities in sport and sportstech – from community and local sport through to major international events.

Infrastructure, advanced manufacturing and sustainability

New Zealand’s pipeline of infrastructure, defence and energy efficiency investments creates opportunities to showcase Victoria’s leading capabilities.

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