NZ: Trade surplus down to NZD103m - Rabobank

Today we saw NZ trade data, where exports did well but imports surged, taking the trade surplus down to just NZD103m from a prior NZD536m, and vastly below to NZD419m expected, notes Michael Every, Senior Asia-Pacific Strategist at Rabobank.

Key Quotes

“On a 12-month rolling basis that saw the deficit blow out to –NZD3,754m from –NZD3,514m. Not that the much-mentioned NZD has reacted much to the news.”