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(CEP News) - New Zealand's balance of trade showed a stronger than expected surplus in March.
The island nation posted its second consecutive trade surplus after ten months of deficits. Statistics New Zealand said the monthly surplus was NZ$324 million, greater than the NZ$250 million expected by economists. The surplus was less than the NZ$489 reported in February and ends a five months streak of improved terms of trade for New Zealand that began from a NZ$1.252 billion deficit in September 2008. The surplus comes on stronger than expected imports and exports. Imports at NZ$3.72 billion, were larger than the consensus forecast of NZ$3.34 billion in imports. Exports increased to NZ$4.04 billion compared to the NZ$3.55 billion consensus. By Adam Button,
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