RTTNews reports that according to the report from Statistics New Zealand, in December New Zealand posted a merchandise trade surplus of NZ$17 million following the NZ$252 million surplus in November.

Exports fell NZ$149 million or 2.7 percent on year to NZ$5.35 billion.

New Zealand's biggest goods export, dairy products, fell NZ$377 million (19 percent) in December.

Leading the total falls in December were milk powder, down NZ$227 million, butter, down NZ$62 million, and milk fats, down NZ$51 million on the same month in 2019.

Total dairy exports to China fell NZ$194 million (21 percent) to NZ$740 million in December. This was led by falls in milk powder, down NZ$113 million.

Imports rose NZ$213 million or 4.2 percent on year to NZ$5.33 billion.

Car imports were up NZ$106 million in December 2020 compared with December 2019.

Imports of electrical and machinery products were up NZ$90 million, and iron and steel up NZ$41 million in December.

For the fourth quarter of 2020, exports were up 0.4 percent on quarter to NZ$15 billion and imports were up 4.7 percent on quarter to NZ$14 billion for a trade surplus of NZ$412 million.