29 Apr 2011

Exports hit record high in March

1:40 pm on 29 April 2011

New Zealand's exports were at a record high level in March, leading to a $464 million trade surplus.

Exports rose 11% to $4.5 billion in March compared to the same month a year ago, driven by higher quantities of milk powder, butter and cheese.

Imports rose 17% to $4.1 billion, largely because of imports of aircrafts and parts.

The result is a $464 million trade surplus for the month - which is the equivalent of 10% of exports.

On an annual basis a trade surplus of $631 million was recorded for the year to the end of March compared to $775 million in February.