Investing.com - New Zealand’s trade balance unexpectedly swung to a deficit in January, as exports declined from the previous month, official data showed on Monday.
In a report, Statistics New Zealand said the trade balance swung to a deficit of NZD199 million in January, from a surplus of NZD306 million in December, whose figure was revised down from a surplus of NZD338 million.
Economists had expected the trade surplus to narrow to NZD167 million in January.
According to the data, exports fell to NZD3.74 billion, down from NZD4.29 billion in December, while imports totaled NZD3.94 billion, down from NZD3.99 billion in December.
Following the release of the data, the New Zealand dollar was lower against the U.S. dollar, with NZD/USD retreating 0.29% to trade at 0.8335.
In a report, Statistics New Zealand said the trade balance swung to a deficit of NZD199 million in January, from a surplus of NZD306 million in December, whose figure was revised down from a surplus of NZD338 million.
Economists had expected the trade surplus to narrow to NZD167 million in January.
According to the data, exports fell to NZD3.74 billion, down from NZD4.29 billion in December, while imports totaled NZD3.94 billion, down from NZD3.99 billion in December.
Following the release of the data, the New Zealand dollar was lower against the U.S. dollar, with NZD/USD retreating 0.29% to trade at 0.8335.