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New Zealand posted a trade surplus of $970 million in March 2025, more than doubling the $476 million surplus recorded in the same month last year. Exports surged 19% year-over-year to $7.6 billion, fueled by strong demand for key commodities like: milk powder, butter, and cheese (+35%), meat and edible offal (+34%), fruit (+74%), and mechanical machinery and equipment (+50%). Imports grew at a slower pace, rising 12% to $6.6 billion. The increase was led by petroleum and related products (+18%), electrical machinery and equipment (+27%), mechanical machinery and equipment (+11%), and pharmaceutical products (+42%). Exports to major trading partners also saw notable gains, rising 23% to China, 22% to the US, 51% to the EU, and 11% to Japan, while exports to Australia slipped 0.5%. On the import side, New Zealand recorded increases from the US (48%), the EU (19%), China (14%), and Australia (5.2%), but a 12% decline in imports from South Korea.