In May, New Zealand goods exports dropped -6.1% yoy, or NZD -350m to NZD 5.4B. Imports dropped -25.6% yoy, or NZD -1.4B, to NZD -4.1B. Trade surplus shrank slightly to NZD 1253m, down from NZD 1339m.
Looking at the details, exports to all major partners except Japan (unchanged), were down, including EU (NZD -95m), US (NZD -87m), China (NZD -77m), Australia (NZD – 72m). Imports from all partners, except China (up NZD 1.9m), were also down, including EU (NZD -231m), Japan (NZD – 223m), USA (NZD – 172m), Australia (NZD -108m).
