New Zealand’s Trade Balance came in at $-14.81B YoY in October versus $-15.41B prior, according to the latest data released by Statistics New Zealand on Tuesday.
Further details suggest that Exports improved to $5.40B during the said month versus $4.77B prior whereas Imports dropped to $7.11B compared to $7.20B in previous readings.
At the press time, the NZD/USD pair is down 0.06% on the day to trade at 0.6035.
Trade balance, released by Statistics New Zealand, is the difference between the value of country’s exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country’s economy.