New Zealand’s exports, imports surge

The seasonally-adjusted Trade Balance in New Zealand increased to $-11.99 billion YoY at the end of February, from the previous period’s $-12.62 billion. This was due to a little dip in January that was followed by a rise in both imports and exports in February.

New Zealand’s trade gap, also known as trade balance narrowed a bit in February. While both imports and exports surged compared to January, exports saw a stronger rebound. This follows a dip in January that brought exports to a four-month low.

As for exports, after a January slump, exports bounced back to $5.89 billion in February, a 16% increase year-over-year. In terms of imports, there has been a modest recovery, for the period in question, reaching $6.11 billion. This represents a 3.3% year-over-year increase. The overall trade deficit remained around -$12 billion. The New Zealand dollar (NZD) showed little reaction to this news, staying slightly below $0.6050 USD. This follows a broader US dollar rally earlier in the week.