- NZ trade balance arrived as $-4.9B vs $-5.105B expected vs revised $-5.59B year on year.
- NZ June trade balance arrived as June: 365m (expected +100m) M/M
- NZD/USD pops and drops between 0.6699 and 0.6704.
NZ June trade balance was expected to be in surplus (+$100m), although both exports and imports were expected to have declined from May.
The data has arrived as follows:
- NZ June Trade Balance $-4.9B vs $-5.105B expected vs revised $-5.59B year on year.
- NZ June trade balance arrived as June: 365m (expected +100m) month on month.
- NZ Exports $5.01B vs $5.29B expected vs revised $5.74B.
- NZ Imports $4.65B vs $5.20B and vs $5.57B revised.
There has been little market reaction. The NZD/USD is under pressure following yesterday’s sentiment and QE noise:
NZD/USD: QE sentiment denting the Kiwi, but market way too ahead of itself
About the 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 the year. A positive balance means that exports exceed imports, a negative one means the opposite. Positive trade balance illustrates the high competitiveness of a country’s economy.