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Financial News: New Zealand Trade Surplus Grows In May

New Zealand Trade Surplus Grows In May

06/27/2018 - 00:13:00 (RTTNews)

(RTTNews) - New Zealand's foreign trade surplus increased notably in May from a year ago, as exports grew faster than imports, preliminary figures from Statistics New Zealand showed Wednesday.

The trade surplus rose to NZ$294 million in May from NZ$62 million in the corresponding month last year. The surplus also increased from NZ$193 million in April.

Exports surged 10.4 percent year-over-year in May to NZ$5.4 billion, a new high for total exports in May month. Imports climbed 5.7 percent to NZ$5.1 billion.

"It has been a strong month for meat exports in general, with both lamb and beef increasing in quantities," international statistics manager,Tehseen Islam ,said.

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