NZ trade balance in line with expectations

FXStreet (Bali) - NZ trade balance (MoM) for the month of May came at $285M vs $300M exp and $534M last, with the annual print coming at $1.37B vs $1.43B exp and $1.19B last. Exports stood at $4.6B vs $4.56B exp and $4.50B last, while imports were $4.32B vs $4.20B exp and $3.96B last.

Key facts

For May 2014 compared with May 2013:

Exports rose $528 million (13 percent) to $4.6 billion.

Milk powder, butter, and cheese led the increase in exports, up $327 million.

Exports to China rose $204 million to $868 million, and to Australia fell $81 million to $667 million.
Imports rose $283 million (7.0 percent) to $4.3 billion.

Vehicles, parts, and accessories led the increase in imports, up $114 million.

There was a trade surplus of $285 million (6.2 percent of exports).

The trend for exports is still at a high level, but it appears to be falling.