New Zealand's trade surplus narrowed in March as exports grew faster than imports due partly to demand for meat.
Statistics New Zealand says the trade shortfall narrowed to $4.8 billion in the 12 months to 31 March from $5.16 billion in the year through February.
A surplus of $324 million was reported for March - the second consecutive monthly gain. The surplus was the largest for a March month since 2002.
Exports rose 17.7% from the month before, driven by increases in meat and edible offal, and large aircraft.
Imports were 7% higher from February due to increased imports of mechanical and electrical machinery and equipment.
BNZ markets economist Mark Walton says agricultural exports appear to be acting as a buffer.