According to the latest data released by Statistics New Zealand on Friday, the nation’s Trade Balance (NZD) came in at $-15.33B YoY in September versus $-15.52B prior.

Further details suggest that Exports eased to $4.87B during the said month versus $4.97B prior whereas Imports dropped to $7.20B compared to $7.24B in previous readings.

Market reaction

At the press time, the NZD/USD pair is down 0.11% on the day to trade at 0.5842.

About New Zealand Trade Balance

Trade balance, released by Statistics New Zealand, is the difference between the value of country's exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country's economy.