NZ trade balance slightly below expectations

FXStreet (Bali) - New Zealand trade balance (MoM) (Mar) came at $920M vs $937M expected and $818M last, with the yearly reading at $0.80M vs $0.92B expected and $0.65B last. Exports (Mar) stood at $5.08B vs $4.98B expected and $4.65B last, while imports (Mar) came at $4.16B vs $4.10B expected and $3.74B last.

Key facts - NZ Bureau of Statistics

March 2014 quarter:

- Values are seasonally adjusted and compared with the December 2013 quarter unless otherwise stated.

- Exports rose 2.1 percent to $13.6 billion.

- Meat and edible offal led the increase in exports, up 8.7 percent ($122 million).

- The trend for exports has been increasing.

- Imports rose 1.5 percent to $12.5 billion.

- The trend for imports remains at a high level.

- There was a trade surplus of $1.1 billion (8.0 percent of exports) – the highest surplus for the series.

March 2014 month:

- Values are actual and compared with the March 2013 month unless otherwise stated.

- Exports rose 15 percent – exceeding $5.0 billion for the first time.

- Dairy led the rise in exports, up $474 million (45 percent).

- Imports rose $483 million (13 percent) to $4.2 billion.

- There was a trade surplus of $920 million (18 percent of exports) – the highest for a March month.