NZ trade surplus narrows as expected in May as imports outpace exports

Tue, 26 Jun 2012

June 27 (BusinessDesk) - New Zealand’s trade surplus narrowed in May, as expected, as imports rose faster than exports, widening the annual deficit. The monthly surplus was $301 million last month, down from a revised $335 million in April, according to Statistics New Zealand. That’s in line with the $300 million surplus forecast in a Reuters survey. The annual gap widened to $810 million from $790 million. The value of the nation’s biggest exports, dairy and meat, have declined in line with weaker global prices for farm commodities. Exports...

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