New Zealand experienced sixth straight month, when it posted a trade surplus and it was also the first time it experienced a surplus in the month of June since 2002.

Statistics New Zealand (SNZ) confirmed that exports while increased by 17% as compared to the last year, imports decreased by 1.6%.

The trade surplus for the month of June was $276 million and it represented 7.3% of exports and it reached $639 million for this year till the end of June.

Economic experts are confident that the growth rate is healthy and it will continue in the later part of the year.

But many people feel that the savings rate needs to improve and the overall economy also needs to improve in the coming days.

Even though, dairy and meat production declined, exports of these items increased during the quarter that ended in the month of June.

In the latest quarter, growth was also witnessed in the value of mechanical exports and they increased by 6%, while electrical exports also increased by 4%. It also confirmed that manufacturing sector is doing well and has staged a turnaround.

Experts have agreed that the recovery is dependent more on exports, while the investment levels are not increasing as investors are still very cautious. But the strong performance of the dairy sector impressed everyone.