New Zealand trade surplus recorded in June surplus

New Zealand recorded its first trade surplus in June in eight years, Statistics New Zealand said on Thursday.

Official figures showed a surplus of 276 million NZ dollars ( 199.5 million U.S. dollars) in the month, as exports rose and imports declined.

Exports jumped 17 percent to 3.8 billion NZ dollars , led by milk powder, butter, and cheese, and logs and wood.

Imports fell 2 percent to 3.5 billion NZ dollars.

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

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

Source: Xinhua