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New Zealand trade balance fails to meet expectations

FXStreet (Bali) - New Zealand's trade balance (YoY) (Jul) came at $1.29B vs 1.49B exp and $1.20B last, with the MoM reading at $-692M vs $-475M exp and $247M last. Exports (Jul) were $3.7B vs $3.98B exp and $4.19B last, while imports (Jul) stood at $4.39B vs $4.50B exp and $3.95B last. Overall, some poor numbers that have added downside pressure to the NZD.

Key facts

For July 2014 compared with July 2013:

Exports fell $125 million (3.3 percent) to $3.7 billion.

Logs, wood, and wood articles led this fall, down $53 million.

Exports to China fell $35 million to $615 million, and to Australia fell $53 million to $687 million.

The trend for exports appears to be falling.

Imports fell $221 million (4.8 percent) to $4.4 billion.

There was a trade deficit of $692 million (19 percent of exports).

New Zealand Exports came in at $3.7B below forecasts ($3.98B) in July

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