New Zealand's greenhouse gas emissions profile has improved slightly, partly due to lower agricultural emissions as a result of drought in some regions.
The Kyoto Protocol projections up to 2012 include emissions through forestry.
Climate Change Minister Nick Smith says there is a slight improvement in the surplus of carbon credits from 9.6 million tonnes to 11.4 million tonnes.
On Friday's carbon price of $NZ20.29 per tonne, the surplus rises from $194 million to $231 million.
Dr Smith says the impact of drought in some regions have reduced agricultural emissions by 3.5%.
However, a new mapping system shows there will be a decrease in emissions removed through forestry and slightly more deforestation of natural forests.
