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New Zealand had a merchandise trade surplus of NZ$264 million in December, Statistics New Zealand said on Tuesday.
That exceeded expectations for a surplus of NZ$150 million following the NZ$861 million deficit in November.
Exports were down 0.5 percent on year to NZ$5.48 billion - shy of forecasts for NZ$5.50 billion but up from NZ$4.94 billion in the previous month.
Imports climbed an annual 6.6 percent to NZ$5.22 billion versus expectations for NZ$5.30 billion and down from NZ$5.80 billion a month earlier.
