New Zealand trade balance for February: NZD 594m (expected 525mNZD)

NZ data - New Zealand trade balance for February NZD 594m

• expected 525mNZD, prior -340mNZD

• exports 4.92bn vs. expected 4.90bNZD, prior 4.73bNZD
• imports 4.33bn vs. expected 4.30bNZD, prior 5.07bNZD

Beats all 'round!

Via Stats NZ:

• total value of meat exports was little changed, but higher quantities were exported to the United States instead of China
• The increase in total good exports was despite falls in exports of logs and fish, particularly to China, in the wake of the COVID-19 outbreak.
• "This month's total goods exports were up on the same month of 2019, led by dairy exports, in particular milk powder," international statistics manager Darren Allan said."Dairy product exports to China remained high, but logs, meat, and fish exports were lower."