New Zealand Trade Balance drops in July, NZD/USD stays pressured towards 0.5900

As per the latest New Zealand (NZ) foreign trade numbers from the New Zealand Statistics, the headline Trade Balance drops to $-1,107.0M MoM in July versus $-111.0M prior (revised). Further, the annual trade deficit improves to $15.81B for the said month versus $-16.11B prior figures (revised from $-15.98B).

More to come…

About New Zealand Trade Balance

The Trade Balance released by Statistics New Zealand is a measure of the balance amount between imports and exports, and it is published in New Zealand dollar terms. A positive value shows a trade surplus while a negative value shows a trade deficit. Any variation in the figures influences the domestic economy. If a steady demand in exchange for exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the NZD.