Statistics New Zealand released its trade data on late Wednesday evening. New Zealand's trade surplus widened to NZ$339 million in February from NZ$13 million in January. January's figure was revised up from a surplus of NZ$8 million.

Analysts had expected the surplus to rise to NZ$50 million.

Exports climbed 9.3% year-on-year in February, mainly driven by fish, crustaceans, and molluscs, and wine, while imports increased by 2.8%, mainly driven by a rise in pharmaceuticals, toys, and sporting equipment.

"Export results were mixed in February 2016, with many commodities rising in value. But falls for some of our main commodities, including beef, lamb, and milk powder, meant that the rise was limited," Statistics NZ international statistics senior manager Stuart Jones said.