New Zealand had a small surplus in April

The trade balance was a surplus of 123 million in April, which was less that the forecast. The drop in dairy exports to China has negatively affected the trade balance. Dairy exports to China are now down to a level seen a year ago according to Stuff.co.nz.

The other highlights of the report include:

• Exports fall 5.5 percent 
• Imports rise 2.6 percent  
• Trade surplus in April 2015 
• Seasonally adjusted exports fall 2.0 percent 
• Seasonally adjusted imports fall 0.3 percent 
• Exchange rate movements