New Zealand’s monthly trade balance in May registered smaller surplus than anticipated, clocking in at NZD 46m against expected NZD 350m. This outcome followed rise in goods exports by NZD 189m (2.8% yoy) to NZD 7.0B, while goods imports saw an increase of NZD 292m (4.4% yoy), totalling NZD 6.9B.
China led the growth in monthly exports, with total exports increasing by NZD 308m (18% yoy). USA also reported a significant rise in exports, up by NZD 68m (9.7% yoy), while Japan experienced a modest increment of NZD 18m (4.2% yoy). On the other hand, total exports to Australia and the European Union fell by NZD -122m (-14% yoy) and NZD -60m (-11% yoy) respectively.
When it comes to imports, USA claimed the top spot with a massive jump of NZD 435m (87% yoy). South Korea followed with an increase of NZD 152m (41% yoy), while Australia and the European Union saw increases of NZD 81m (11% yoy) and NZD 31m (3.2% yoy) respectively. However, China’s imports into New Zealand declined by NZD 52m (-3.6% yoy).
 to NZD 7.0B, while goods imports saw an increase of NZD 292m (4.4% yoy), totalling NZD 6.9B.){kind=link}