What's the deal with calling these things the trade balance? Isn't it always a trade imbalance, and we just wanna know how much?
July trade balance, deficit of 649mln
- expected -600m, prior was -60m
Exports, 4.2bn
- expected 3.83bn, prior was 4.23bn
Imports, 4.85bn
- expected 4.40bn, prior was 4.29bn
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From Stats NZ:
- The value of total goods exported was $4.2 billion in July 2015, up $514 million (14 percent) compared with July 2014
- Fruit exports led the rise, up 51 percent
- Meat exports rose 24 percent when compared with the same month last year
- Milk powder, butter, and cheese exports showed little change
- Increases in cheese, dairy spreads, and milk protein concentrates offset the fall in milk powder exports
- "The small rise in dairy export values combined with the falling New Zealand dollar contributed to the rise in total exports value this month," international statistics senior manager Jason Attewell said. "A weaker dollar means that exporters receive more New Zealand dollars for transactions in foreign currencies while imports cost more."