New Zealand goods exports dropped -2.3% yoy to NZD 5.7B in March. Imports rose 11.0% yoy to NZD 5.6B. Trade surplus narrowed to NZD 33m, down from NZD 201m, matched expectations.
Exports to China was up NZD 423m to NZD 1.8B. But exports to all other top trading partners were down, with USA down NZD -52m, EU down NZD -49m, AU down NZD -105m, Japan down NZD -25m.
Imports from China was up NZD 624m to NZD 1.3B, from EU was up NZD 132m, from AU was up NZD 65m, from Japan was up NZD 19m. But imports from USA was down NZD -74m.
