New Zealand trade balance for March comes in at NZD 672m surplus

  • expected NZD 686m, prior NZD 594m

Exports NZD 5.81bn … beat

  • expected NZD 5.8bn, prior NZD 4.92bn

Imports NZD 5.14bn … beat

  • expected NZD 5.10bn, prior NZD 4.33bn

NZ trade proving resilient in March. NZ food exports holding up well.

  • Exports hit a new high in March 2020, driven by kiwifruit, dairy, and meat
  • higher prices for milk powder and meat
  • falls in forestry products,

On trade with China

  • Exports to China fell in March 2020 when compared with March 2019, down $87 million to $1.4 billion.Exports to China have fallen two months in a row compared with the same period last year.
  • Imports from China also fell, down $83 million from last year to $714 million in March 2020. Imports from China have fallen three months in a row compared with the same period last year.

more to come