The New Zealand trade balance for May shows a 264m surplus vs the expected 250m and prior 433m.
- 12 months YTD trade balance arrived as -5492m vs the expected -5530m, prior -5479m
- Exports 5.81bn came in for a beat vs the expected 5.61bn, prior 5.55bn
- Imports 5.54bn came in for a beat vs the expected 5.40bn and prior 5.11bn.
Analysts at ANZ bank explained that Kiwi continues to gain as the USD falls more broadly to a fresh three-month low:
“The move came on the back of Trump’s criticism of the Fed and another round of weak manufacturing data out of the US. Markets look forward to Fed Chair Powell’s speech tomorrow morning, before the RBNZ meeting takes centre stage.”
About the 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.
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