New Zealand goods exports dropped -0.2% yoy to NZD 5.2B in November. Goods imports dropped -17% yoy in NZD 5.0B. Monthly trade balance was a surplus of NZD 252m, slightly above expectation of NZD 250m. That’s the first November surplus since 2013.
There were contrasting movements in exports to top destinations. Exports to China, US and EU were up. Exports to Australia and Japan were down. Imports were down from all top trading partners, including China, EU, Australia, US and Japan.
