New Zealand posted a merchandise trade surplus of NZ$157 million in April, Statistics New Zealand said on Friday, worth 4.0 percent of exports.
The headline figure missed forecasts for a surplus of NZ$480 million following the upwardly revised surplus of NZ$732 million in March (originally NZ$718 million).
Exports were up a seasonally adjusted 2.2 percent on year to NZ$3.95 billion - also missing expectations for NZ$4.06 billion after coming in at a downwardly revised NZ$4.41 billion in the previous month (originally NZ$4.42 billion).
Meat and edible offal led the rise, the bureau said, followed by petroleum and products.
Imports jumped a seasonally adjusted 7.4 percent on year to NZ$3.80 billion versus forecasts for NZ$3.60 billion after showing a downwardly revised NZ$3.68 billion a month earlier (originally NZ$3.70 billion).
Petroleum and products led the increase in imports, up NZ$235 million, due to crude oil and diesel. Vehicles, parts, and accessories saw the second-largest increase, up NZ$68 million.
"The value of goods imported rose on the back of petroleum imports, which can fluctuate depending on the timing of shipments," industry and labor statistics manager Louise Holmes-Oliver said. "The trade surplus has reduced compared with the previous four April months."
After removing seasonal effects, exports lost 8.6 percent on month. Crude oil (which is not seasonally adjusted) led this decrease. Seasonally adjusted imports rose 1.5 percent in April.
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