NZ posts bigger than expected trade surplus in February on dairy, log shipments to China

Mon, 25 Mar 2013

March 26 (BusinessDesk) – New Zealand posted a biggest-than-expected trade surplus last month on shipments of whole milk powder, logs and sheep meat to China. The surplus was $414 million in February from a revised deficit of $287 million in the previous month, according to Statistics New Zealand. The annual trade deficit narrowed to $1.08 billion from $1.3 billion. The figures beat the Reuters forecast for a monthly surplus of just $17 million and an annual gap of $1.48 billion. “This improvement may continue for another month or two before...

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