New Zealand Reports May Trade Surplus Exceeding Expectations

FOREX

DAILY PIPZ Analyst Team

6/24/20241 min read

Statistics New Zealand reported a merchandise trade surplus of NZ$204 million for May on Monday, surpassing expectations of NZ$155 million. This followed a revised deficit of NZ$3 million in April (initially reported as a NZ$91 million surplus). Exports increased by 2.9 percent month-on-month to NZ$7.18 billion, up from a revised NZ$6.31 billion in the previous month (originally NZ$6.42 billion). Imports totaled NZ$6.95 billion, up from NZ$6.32 billion the previous month.

Annual goods exports were NZ$68.9 billion, a decrease of NZ$3.8 billion from the previous year, while annual goods imports were NZ$78.9 billion, down NZ$10.9 billion from the previous year. The annual trade deficit stood at NZ$10.1 billion, compared to NZ$17.1 billion in the year ending May 2023.

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New Zealand Reports May Trade Surplus Exceeding Expectations

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CFDs and Spot FX are complex instruments and come with high risk of losing money rapidly due to leverage and may not be suitable for all kind of traders or investors.

Most of traders or investors accounts lose money when trading CFDs and Forex. You should consider whether you understand how CFDs and Forex work and can afford the high risk of losing your money.

All information that we share in this DAILY PIPZ website are based on our professional analysis in the past and the final decision to trade is yours. Please remember that past performance may not be indicative of future results.

Trade or invest with the money that you can afford to lose. We’re not responsible for any possible outcome that might occurred.