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The trade balance is the difference between the value of exports, and the value of imports.
Data is obtained from export and import entry documents lodged with the New Zealand Customs Service.
Exports (including re-exports) are valued fob (free on board) and are in New Zealand dollars. Estimated values are used for goods that are not already sold at the time of export entry lodgement.
Imports are valued at cif (cost including insurance and freight) and are in New Zealand dollars.
Trade balance values are calculated by deducting imports (cif) from exports (fob). These two valuations are not strictly comparable, because the cif valuation includes insurance and freight to New Zealand while the fob valuation excludes insurance and freight from New Zealand.