New Zealand's Trade Balance misses expectations as Exports contract

New Zealand's Trade Balance contracted by $-1.484 billion for the month of August, clocking in a more bearish reading than the forecast $-930 million, and slipping even further from the previous reading of $-196 million, which was also revised downwards from $-143 million.

Key highlights (via Stats NZ)

Of New Zealand’s $242.6 billion total investment abroad, 60.1 percent was in the United States of America, Australia, and the United Kingdom.

Of the $398.9 billion foreign investment in New Zealand, 56.2 percent was from Australia, the United Kingdom, and the United States of America.

Hong Kong (SAR) became New Zealand's fourth-largest inward ($14.4 billion) investment partner; Japan remained our fourth-largest outward ($13.9 billion) investment partner.

New Zealand's foreign-currency-denominated external debt was $125.6 billion (91.4 percent of which was hedged).