Export receipts outpaced imports by $157min April for an annual deficit of $694m.

The NZD traded at 82.70 Australian cents at 5pm in Wellington from 82.65c yesterday, having climbed as high as 82.85c.

The March trade surplus almost twice the $373m forecast.

The price of pelts climbs 5% to a 12-month high, followed by a 3% gain in log prices and a 2% increase in skim milk powder prices.