NZ annual Trade Deficit shrinks to NZD1.33 billion in May

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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