New Zealand goods exports dropped -8.5% yoy in February to NZD 4.5B. Imports dropped -1.1% yoy to NZD 4.3B. Monthly trade surplus came in at NZD 181m, turned from January’s NZD -647m deficit, largely matched expectations.
Exports to China was up NZD 369m, but down to other major trading partners including US, EU, Australia and japan. Imports from China, Australia and Japan were up, but down from EU and US.
