NZ Trade Balance Lowered
April 30, 2009 New Zealand Finance
The New Zealand trade surplus for March has been reported at $324 million, a high number for March, a low number for surrounding month.
New Zealand posted a total of $324 million as its trade surplus for the month of March, which is the highest March surplus for New Zealand since 2002. Although this figure is 56% lower than the $489 million of February.
Since February, the demand for import items has increased by 25% and the demand for exports only 16.8%. This is in part attributed to the decrease in oil prices and decrease in vehicle demand. Other explanations include the fact that importers order stock in advance and this drop could be a product of last April’s or May’s demand.