New Zealand’s seasonally-adjusted Trade Balance for the year ended in February rose to $-11.99 billion YoY compared to the previous period’s $-12.62 billion, with both Exports and Imports rising in February from January’s minor decline.
New Zealand’s February Imports saw a meager rise to 6.11 billion, a slight but measurable recovery from January’s dip to an 11-month low of 5.9 billion. The rebound in Imports was eclipsed by a firmer recovery in New Zealand’s Exports in February, which rebounded to 5.89 billion from January’s four-month low of 4.93 billion.
New Zealand’s overall merchandise Trade Balance came within a hair of $-12 billion, and January’s Trade Balance saw a slight downside revision to $-12.62 billion from the initial print of $-12.5 billion.
February’s New Zealand Exports are 16% higher than the same time in 2023, rising $823 million YoY. Goods Imports are also 3.3% higher than at the same time last year, rising $194 million YoY.
Market reaction
The NZD/USD is trading thinly in Friday’s early Asia market session, churning just beneath the 0.6050 level after the pair sagged from a failed bid to capture the 0.6100 handle amidst Thursday’s broad-market US Dollar recovery.
NZD/USD 5-minute chart
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.
Source: https://www.fxstreet.com/news/new-zealands-trade-balance-lifts-to-1199b-as-exports-and-imports-both-rise-202403212158