New Zealand Trade Balance Surges by Largest Level in History
New Zealand's Trade Balance, the difference between the country's exports and imports, exploded by the largest level in its history as exports surged ahead. The NZ$858.0 million May figure greatly surpassed the previous month's number of a revised NZ$318.7 million and was nearly 4 times greater than the expected NZ$250.0 million. Export growth boosted the country's balance after advancing by NZ$310.0 million to NZ$3.96 billion. Imports continued to dwindle, now making it the 6th of 7 months in which it has fallen. Overall, the year-to-date metric continue to see the trade deficit narrow to only -NZ$3.04 billion.