New Zealand exports rose 8.6% yoy in NZD 4.4B in August. Imports, on the other hand, dropped sharply by -16% yoy to NZD 4.8B. The monthly trade balance was a deficit of NZD -353M, slightly larger than expectations.
Imports were down from all top trading partners, including China, EU, Australia, USA and Japan. But there were contrasting movements in exports, up to China, USA and EU, but down to Australia and Japan.