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New Zealand posted a merchandise trade surplus of NZ$388 million in April, Statistics New Zealand said on Wednesday – up from the upwardly revised NZ$39 million surplus in March (originally NZ$38 million).

Imports surged 26.0 percent on year to NZ$4.98 billion last month, but down from NZ$5.66 billion in March.

Exports rose an annual 1.2 percent to NZ$5.37 billion after coming in at NZ$5.69 billion in the previous month.

Export commodities to rise included logs, wood, and wood articles (up NZ$356 million), mechanical machinery and equipment (up NZ$102 million), live animals (up NZ$64 million), and iron and steel (up NZ$51 million).

Export commodities to fall included milk powder, butter, and cheese, down NZ$311 million (20 percent), fruit, down NZ$192 million (24 percent), food preparations (includes infant formula), down NZ$78 million (30 percent), and wine, down NZ$59 million (36 percent).

The monthly trade balance in April 2020 was a surplus of NZ$1.4 billion. In the year to April, annual goods exports were valued at NZ$59.0 billion, down NZ$1.4 billion (2.4 percent) from the previous year. Annual goods imports were valued at NZ$58.3 billion, down NZ$4.6 billion (7.2 percent) from the previous year. The annual goods trade balance was a surplus of NZ$733 million. In the year ended April 2020 there was a deficit of NZ$2.4 billion.

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