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Exports and imports both rose in the three months to June, Statistics New Zealand said today.
The figures show there was a June trade surplus for the first time since 2002.
After adjusting for seasonal effects, exports rose 6.8% and imports rose 5.8% from April to June.
This follows rises of 11% and 7.1% respectively in the March 2010 quarter and exports are now back near their record highs from 2008.
"Seasonally adjusted export values are now similar to the record level recorded in late 2008, whereas import values are still well below their 2008 high," overseas trade manager Neil Kelly said.
"The high export values coincide with record values for dairy exports."
Milk powder, butter, and cheese were up 15% and provided half of the total increase in export values while meat and edible offal were up 7.8% and logs and wood were up 12%.
ASB economist Jane Turner pointed out that the recovery in
exports was not limited to agricultural goods.
Manufacturing categories, including mechanical and electrical
machinery and equipment increased 6% and 4.1% respectively, she
said.
For imports during April to June, intermediate goods, including petroleum products and raw materials, were up 6.7% while the military sector nearly quadrupled, with the import of the offshore patrol vessels HMNZS Otago and Wellington.
For just the month of June, exports were worth $3.8 billion and imports were worth $3.5 billion.
The trade surplus of $276 million - 7.3% of exports - is the first June surplus in eight years, Statistics New Zealand said.
