NZ's monster May trade surplus confirmed

Thursday 8 July 2004

Statistics New Zealand today trimmed just $2 million off a surprise monster May trade surplus that was foreshadowed in preliminary figures released last month.

By The Landlord

Following the receipt of export data, the department said the surplus was $654m compared with the early estimate of $656m.

Economists had predicted a surplus of just $91m.

A whopping increase in the value of goods exported during May was the principal reason for the month's trade balance soaring to the biggest one month surplus since May 2001.

Exports jumped in May to $3.37 billion from $2.69b in April and $2.76b in May 2003.

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