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New Zealand’s trade deficit shrank - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at UOB Group explained that New Zealand’s merchandise trade deficit shrank in October.

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    Key Quotes:

    "However, exports were weaker than expected as lower global dairy prices continued to diminish export receipts."

    "The trade gap narrowed from a revised $1.14bn in September to $963mn last month, coming in slightly stronger than the market forecast of a $1.00bn deficit.

    Exports fell 4.5% y/y to $3.83bn in October, led by a 20% decline in milk powder, reflecting lower term-gate milk prices. Imports were down 2.2% over the same period at $4.79bn last month, with capital goods imports 6.0% lower than a year ago in October."
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