NZ annual Trade Deficit shrinks to NZD1.33 billion in May
|New Zealand’s Trade Deficit shrank to NZD1.33 billion in May vs. April’s NZD-2.441 billion, according to the latest Trade Balance data published by the Statistics NZ on Thursday.
On a monthly basis, the Kiwi nation posted a Trade Surplus of NZD1.25 billion in May vs. NZD +1.34 billion previous.
Meanwhile, NZ May month imports stood at NZD+4.14 billion while exports arrived at NZD+5.39 billion.
About NZ Trade Balance
Trade balance, released by Statistics New Zealand, is the difference between the value of the country's exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates the high competitiveness of the country's economy.
Market reaction
Despite upbeat headline numbers, the kiwi dollar remains a little impressed, as the risk-off sentiment overshadows.
At the time of writing, NZD/USD erases early gains to test the 0.6400 support.
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