New Zealand Posts Highest Trade Surplus on Record for March
In March of 2014, New Zealand recorded a NZD 920 million surplus, up from a revised NZD 793 million surplus in the previous month and NZD 732 million a year earlier. It is the first time monthly exports have exceeded NZD 5 billion.
4/29/2014 9:38:55 AM
Exports rose NZD 671 million in the March month, to NZD 5.1 billion. Milk powder, butter, and cheese led the rise in exports, up NZD 474 million (45 percent) compared with March of 2013.
Imports rose NZD 483 million (13 percent) to NZD 4.2 billion, which was influenced by a one-off large capital item.
In the March 2014 quarter, the seasonally adjusted value of exported goods rose 2.1 percent to NZD 13.6 billion, boosted by meat and fruit sales.
Imports increased 1.5 percent to NZD 12.5 billion, led by a rise in capital goods.
The seasonally adjusted trade balance for the March 2014 quarter was a surplus of NZD 1.1 billion. This follows a surplus of NZD 986 million in the December 2013 quarter.