29 Jul 2010

Trade surplus for June

2:49 pm on 29 July 2010

New Zealand recorded its first trade surplus in eight years in June.

Official figures show a surplus of $276 million for the month as exports rose and imports declined.

Exports jumped 17% to $3.8 billion, led by milk powder, butter, cheese, logs and wood.

Imports fell 2% to $3.5 billion, though Statistics New Zealand says it would have risen if a one-off import of aircraft in June last year was excluded.

On an annual basis, the trade balance recorded a surplus of $639 million, a turnaround from a deficit for the previous June year of $3.1 billion.

Imports fell 13% over the year to $40 billion, led by mechanical machinery and equipment, while exports fell 5.5% to $40.6 billion.