Trade Balance in New Zealand
New Zealand - Trade Balance
The economy appears to have taken a significant hit in the first quarter, and available data points to a much sharper contraction in Q2 amid lockdown measures. Manufacturing activity as well as consumer and business confidence plunged at the tail-end of Q1 and fell even further into contractionary terrain in April, while card transactions also collapsed at an unprecedented rate in the first month of Q2. Nevertheless, following almost two months of strict lockdown, in mid-May the government started to lift containment measures. Moreover, on 14 May, Prime Minister Jacinda Ardern's administration approved massive budget stimulus to buttress the economy and kickstart the recovery ahead of the September general elections. The budget is aimed at cushioning widespread unemployment and ramping up infrastructure spending. It will raise public debt significantly, however, although it should not pose significant fiscal risks given the country's low debt burden.New Zealand - Trade Balance Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | -1.0 | -2.5 | -2.2 | -2.0 | -4.3 |
New Zealand Trade Balance Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.67 | 1.20 % | Dec 30 |
| Exchange Rate | 0.67 | -1.69 % | Jan 01 |
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Economic News
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New Zealand: Government approves massive budget stimulus to buttress economy ahead of September elections
May 21, 2020
On 14 May, the government unveiled an NZD 50 billion (USD 30 billion) stimulus package, largely focused on supporting employment in an effort to kickstart the economy following the impact of the coronavirus outbreak and consequent lockdown.
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New Zealand: RBNZ ramps up asset purchasing program in May
May 13, 2020
On 13 May, the Reserve Bank of New Zealand (RBNZ) decided to further ramp up its asset purchasing program in order to reduce borrowing costs and soften the economic impact from Covid-19.
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New Zealand: Unemployment rises moderately ahead of Covid-19 lockdown in Q1
May 6, 2020
The seasonally-adjusted unemployment rate rose to 4.2% in Q1 from 4.0% in the previous quarter.
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New Zealand: Consumer confidence craters in April
May 1, 2020
The ANZ-Roy Morgan consumer confidence indicator collapsed to 84.8 in April from March’s 106.1, hit by tough lockdown measures.
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New Zealand: Shattering blow to business confidence in April
April 24, 2020
The ANZ bank business outlook indicator worsened further in April, hit by lockdown measures enacted to limit the spread of coronavirus.
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