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Chinese dairy demand bolsters New Zealand trade surplus

Staff Writer |
New Zealand ran up a small trade surplus in the 2016 calendar year, with dairy exports to China providing the biggest single boost, the government statistics agency said.

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Overall, New Zealand's trade surplus with the rest of the world last year stood at 3.7 billion NZ dollars ($2.64 billion), according to Statistics New Zealand.

Total exports were 70.1 billion NZ dollars ($50.05 billion) and total imports were 66.4 billion NZ dollars ($47.41 billion).

The top export destination was Australia, with a value of 12.8 billion NZ dollars ($9.13 billion), followed by China at 12.3 billion NZ dollars ($8.77 billion).

New Zealand sent 2.7 billion NZ dollars ($1.92 billion) of dairy products to China in 2016 year - its largest export earner - up from 2.4 billion NZ dollars ($1.71 billion) in 2015.

New Zealand ran a trade deficit with the European Union, its biggest imports provider.

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