NEW ZEALAND'S TRADE BALANCE LIFTS TO $-11.99B AS EXPORTS AND IMPORTS BOTH RISE
New Zealand's seasonally-adjusted Trade Balance for the year ended in February rose to $-11.99 billion YoY compared to the previous period's $-12.62 billion, with both Exports and Imports rising in February from January's minor decline.
New Zealand's February Imports saw a meager rise to 6.11 billion, a slight but measurable recovery from January's dip to an 11-month low of 5.9 billion. The rebound in Imports was eclipsed by a firmer recovery in New Zealand's Exports in February, which rebounded to 5.89 billion from January's four-month low of 4.93 billion.
New Zealand's overall merchandise Trade Balance came within a hair of $-12 billion, and January's Trade Balance saw a slight downside revision to $-12.62 billion from the initial print of $-12.5 billion.
February's New Zealand Exports are 16% higher than the same time in 2023, rising $823 million YoY. Goods Imports are also 3.3% higher than at the same time last year, rising $194 million YoY
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