NZ unexpectedly posts June trade surplus of $414M as oil imports slide faster than dairy exports

Tue, 23 Jul 2013

July 24 (BusinessDesk) - New Zealand recorded a trade surplus in June, against expectations of a small deficit, as imports of petrol and petroleum products fell faster than exports of dairy products. The trade surplus was $414 million in June for an annual deficit of $777 million, according to Statistics New Zealand. Imports dropped 7.4 percent to $3.6 billion from the same month a year earlier, while exports fell 3.9 percent to $4.02 billion. A Reuters survey of economists was picking a monthly deficit of $100 million with imports and exp...

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