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New Zealand Nickel Industry Outlook 2024 - 2028

See how New Zealand Nickel performed compared to key markets such as the United States, Canada and Russia.

Key Market Indicators

**New Zealand Nickel Export Projected to Decline** New Zealand's nickel export is projected to fall to approximately $137,000 by 2028, down from around $150,000 in 2023. This represents an average annual decline of 1.5%. Despite the anticipated drop, New Zealand's nickel supply has seen significant growth over the years. Since 1994, the country's supply has surged by over 23% annually. In 2023, New Zealand was ranked 60th globally in nickel exports, with Kuwait surpassing it at the same export value of $150,400. Leading the rankings were Canada, Russia, and Malaysia, occupying the second, third, and fourth spots respectively. **Nickel Imports Expected to Rise** In contrast to exports, New Zealand's nickel import is set to increase. By 2028, imports are expected to reach nearly $4.9 million, up from around $4.4 million in 2023. This marks an average annual growth rate of 1.6%. Since 1994, New Zealand's demand for nickel has experienced a modest increase, growing by 0.1% annually.

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New Zealand Nickel Market Data and Forecasts