New Zealand's annualized Trade Balance declines $-9.87 billion after a rise in MoM Exports

Source Fxstreet

Apr 23, 2024 22:54

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.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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