NZ June trade surplus $230m

A $230 million trade surplus recorded for June was slightly up from a year earlier but below market expectations.

Exports for the month rose 4.7 percent or $176m to $4 billion, while imports rose 4.7 percent or $167m to $3.7 billion, Statistics New Zealand said today.

Median forecasts in a Reuters poll of economists had been for a June trade surplus of $369m.

For the year to June the trade surplus was $1b, compared to the median forecast of $1.2b.

The main boost to exports last month compared to June 2010 was a $90m or 11 percent rise in milk powder, butter and cheese.

Among imports the largest rise was for petroleum and products, which rose $62m or 9.3 percent, mainly due to crude oil imports.

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