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

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