New Zealand posted a merchandise trade surplus of NZ$282 million in July, Statistics New Zealand said on Wednesday - down from NZ$426 million in June.
Imports tumbled 18.0 percent on year to NZ$4.6 billion, while exports eased an annual0.2 percent to NZ$4.9 billion.
For the first month in almost 34 years, no crude oil was imported into New Zealand, the stats bureau noted.
In the past three months, total imports have been very low while exports have been holding up, leading to the smallest annual trade deficit since the October 2014 year.
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