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New Zealand had a merchandise trade deficit of NZ$86 million in March, Statistics New Zealand said on Friday.
That missed expectations for a surplus of NZ$275 million following the NZ$172 million surplus in February.
Exports were up 5.8 percent on year, while imports spiked 14.0 percent.
For the first quarter of 2018, the trade deficit was NZ$1.8 billion.
