April marks record trade surplus as imports dive

Tue, 26 May 2020

New Zealand posted a record monthly trade surplus of $1.3 billion after imports tumbled 22 percent to $4 billion in the steepest decline since October 2009.The surplus was in line with expectations. Exports “held up fairly well, through both the initial disruptions in the Chinese market and through our own lockdown period, in large part because many exporters were deemed essential services,” said Westpac economist Michael Gordon.While imports of petrol and diesel fell 35 percent and truck and van imports fell 52 percent, New Zealand...

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