NZ trade surplus smaller than expected in May as crude oil, meat exports fall

Wed, 26 Jun 2013

June 27 (BusinessDesk) – New Zealand recorded a smaller-than-expected trade surplus last month as exports including crude oil and meat missed estimates, offset by a drop in imports. The trade surplus was $71 million in May, for an annual deficit of $869 million, according to Statistics New Zealand. A monthly surplus of $400 million was expected for an annual deficit of $520 million, according to a Reuters survey. The trade-weighted index edged up to 73.50 after the figures were released from 73.46 immediately before. The Reserve Bank says a...

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