According to the latest data released by Statistics New Zealand on Friday, the nation’s Trade Balance (NZD) dropped to $-2,291M MoM in August versus $-1,107M prior. The annual trade deficit improved to $15.54B for the said month versus $-15.88B prior figures.

Further details suggest that Exports eased to $4.99B during the said month versus $5.38B prior whereas Imports improves to $7.28B compared to $6.55B in previous readings.

Market reaction

At the press time, the NZD/USD pair is up 0.07% on the day to trade at 0.5934.