NZ annual trade surplus $631m

Exports rose a seasonally adjusted 3.2% in the March quarter to $11.6 billion, boosted by dairy products and crude oil.

Imports for the three months rose 8.9% from the December quarter to $12 billion, with a big jump in crude oil imports and with an aircraft being imported, Statistics New Zealand said today.

For the month of March exports were 11% ahead of a year earlier at $4.5 billion, a new monthly high, while imports rose 17% to $4.1 billion.

For the month of March, there was a trade surplus of $464 million, or 10% of exports, while the annual trade surplus of $631 million amounted to 1.4% of exports.

The seasonally adjusted trade balance for the March quarter was a deficit of $428 million, equivalent to 3.7% of exports. It was the first quarterly, seasonally adjusted deficit since the December 2009 quarter.

NZPA

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