Forex Asia Session News – New Zealand annual trade surplus becomes narrower

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The annual trade balance surplus for New Zealand has become narrower in March while the Country’s monthly trade balance has recorded a surplus for the third consecutive time. This was according to data that was posted today. The announced figure for the year ended at 31 March was 505 million US Dollars as opposed to February’s year end 620 million US Dollars.

Just for the month of March alone, the trade surplus figure was $371 million . According to a poll forecast by the Reuters news agency the surplus was expected at $400 million for the year end while for the month at $240 million. Exports rose by 13 % compared to last year ago on the back of higher dairy, timber and wool sales, while imports at 10.9% driven by aircraft, petrol and other industrial products.

Trade balance figures show the difference in value between the total exports and imports a country has performed. A high value would generate hawkish behavior for the country’s currency as it would indicate interest on the country’s currency.