Figures confirm February trade surplus

By Phil Boeyen, ShareChat Business News Editor

Thursday 11th April 2002

New Zealand's trade surplus for February has been confirmed at $271 million, slightly higher than the provisional figure of $269 million.

Statistics New Zealand says merchandise exports for February were valued at $2.622 billion, $2 million higher than the early estimate. Imports in February totalled $2.351 billion.

The surplus is equivalent to 10.3% of the value of merchandise exports for the month.

"Surpluses of more than 10.3%of exports have been recorded in four of the 10 previous February months," Statistics NZ reports. "The monthly trend in the merchandise trade balance shows a decline since August 2001."

The updated merchandise trade balance for the year ended February 2002 is a surplus of $479 million compared with a deficit for the previous February year of $1.019 billion.

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