New Zealand March trade balance

  • Bloomberg consensus expectations was 900m
  • prior was 818m

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March exports in at 5.08bn

  • expected 5.00bn, prior was 4.56bn

March imports in at 4.16bn

  • expected is 4.1bn, prior was 3.74bn

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And the kiwi goes nuts:

nzd dollar

Not.

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From Stats NZ:

  • The seasonally adjusted value of exported goods rose 2.1 percent to $13.6 billion in the March 2014 quarter … This follows rises in the previous two quarters
  • Imports rose 1.5 percent to $12.5 billion in the March 2014 quarter. The increase was led by a rise in capital goods
  • Monthly exports pass $5 billion for the first time (“This is the first time monthly exports have exceeded $5 billion, and annual exports have exceeded $50 billion… Record dairy exports pushed the values past these thresholds.”)
  • Imports rose $483 million (13 percent) to $4.2 billion, which was influenced by a one-off large capital item
  • The trade surplus was $920 million. This is the highest recorded surplus for a March month.