Trade Defict Widens Due To Kiwi Strength

The release of data on New Zealand?s trade balance highlighted the full impact of the 26 percent annual rise in trade-weighted index of the Kiwi dollar.

The annual trade deficit widened in June to NZ $524 million, twice the Reuters forecast of NZ $269 million. Imports in June printed at NZ $3.28 billion, slightly below the estimate of NZ $3.3 billion. At the same time, exports plummeted to a five-month low of NZ $2.75 billion?significantly short of the forecasted NZ $3.01 billion. The report by Statistics New Zealand indicated that about two-thirds of the decline in exports stemmed from combined pullback in demand for the meat and dairy groups.
[B]Building Permits (MoM) (JUN)[/B]
Expected: n/a
Previous: 5.5%
[B]Money Supply M3 (YoY) (JUN)[/B]
Expected: n/a
Previous: 13.2%
[B]Trade Balance (JUN)[/B]
Actual: -0.524B
Previous: 0.011B
[B]Imports (JUN)[/B]
Actual: 3.27B
Previous: 3.34B
[B]Exports (JUN)[/B]
Actual: 2.75B
Previous: 3.36B
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