New Zealand's annualized Trade Balance declines $-9.87 billion after a rise in MoM Exports
New Zealand's Trade Balance in NZD terms fell $-9.87 billion through the year ended in March, slightly less than the previous YoY period, which declined $-12.06 billion, a slight downside revision from the initial print of $-11.99 billion.
New Zealand's Exports rose to a 10-month high of 6.5 billion in March, lifting from the previous month's $5.79 billion (revised slightly from $5.89 billion).
New Zealand's Imports in March fell slightly, printing at $5.91 billion versus February's $6.1 billion, which was also revised slightly from $6.11 billion.
Market reaction
Reaction to New Zealand Trade Balance figures is muted as markets gear up for the early Wednesday market section in the Pacific. The NZD/USD is trading tightly near 0.5935.
About New Zealand's Trade Balance
Trade balance, released by Statistics New Zealand, is the difference between the value of 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 high competitiveness of country's economy.
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
