New Zealand Exports Jump 25%, Imports 28%; Trade Balance Near Flat

New Zealand's goods trade surplus narrowed to NZD 23 million in June from a revised NZD 577 million in May, according to Statistics New Zealand data. Exports and imports each totaled NZD 8.1 billion.

Exports rose 25% from a year earlier. Imports climbed 28%.

Export growth was broad-based. Shipments to China increased 24% year-on-year, led by dairy and meat. Exports to the US surged 43% on demand for meat and dairy. Australia and the EU also posted gains.

Imports from China, the EU, Australia and South Korea all increased. Machinery and vehicles led the gain.

The June trade surplus was NZD 23 million.