Wellington, May 26 NZPA - The value of merchandise goods imports and exports both fell in April this year, compared to April last year, Statistics New Zealand said today.

Imports tumbled 18.1 percent, while exports fell 4.5 percent.

The imports decrease was the largest in dollar terms for many years, but was mainly due to large, one-off capital items that were imported in April 2008.

If these items were excluded, the April fall would have been 7.3 percent.

The fall in exports was led by crude oil, but was partly offset by increases in fruit, meat and edible offal exports.

The trend for total exports has flattened recently, rising at an average of less than 0.1 percent per month since October 2008.

The trend for total merchandise imports has been decreasing since September 2008, down a total of 11 percent since then.

The trade balance last month was a surplus of $276 million or 7.5 percent of the value of exports -- the largest surplus for an April month since 2001.

Statistics NZ said the trend for the trade balance had risen significantly over the past eight months. While still in deficit, the trade balance trend is at its highest level since April 2002.

Statistics highlights:

* Merchandise exports last month were valued at $3.6 billion, down $176m (4.6 percent) on April last year;

* crude oil led the exports decrease, down $204m (61.3 percent);

* merchandise imports were valued at $3.4b, down $745m (18.1 percent);

* almost two-thirds of the decrease in imports was due to large one-off capital items in April 2008;

* imports of vehicles, parts, and accessories decreased $127m (32.4 percent);

* the trade balance was a surplus of $276m, or 7.5 percent of exports.

NZPA