New Zealand's trade surplus narrows in July

New Zealand's trade surplus narrowed to NZ$85 million in July from NZ$246 million in the previous month, while market expectations showed a trade deficit of NZ$200 million.
With the surplus in July, the trade balance recorded a surplus over the last five months. While the annual trade deficit remained at NZ$3.21 billion in July, down from NZ$3.65 billion in the previous month. Annual exports stood at NZ$4.63 billion in July against imports which fell to NZ$4.63 billion from July 2016.
China was the dominant importer of New Zealand goods, while the United Arab Emirates was the second largest importer of New Zealand goods.