Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NEW ZEALAND
The trade deficit narrowed in October to $17.1bn from $24.2bn bringing the deficit YTD down to $14.8bn from $15.4bn. Both export and import growth was weak with exports down 9.3% y/y and imports -14%.
NZ trade balance $mn 3-month ma
Source: MNI - Market News/Refinitiv
- The weakness in exports was driven by sharp drops in dairy and fruit shipments but aluminium rose. Imports were weak due to falling shipments of machinery and equipment and vehicles, which implies a soft capex outlook.
- Exports to China fell 19% y/y in October due to weaker dairy shipments. This is concerning for NZ as exports to China were worth over 5% of GDP last year. Exports to other key markets were also weak with Australia down 15% y/y and EU -24% but US +0.5% and Japan +9.3%.
NZ exports by country y/y% 3-month ma
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok