The dumping of Italian processed tomatoes onto the local market had little impact, according to a MED report.

New Zealand's terms of trade fell in the first three months of the year as a decline in commodity prices weighed on exports.

Cheaper imported furniture means job losses at part of company owned by makers of Sleepyhead beds.

New Zealand's trade balance was $605 million in surplus last month, falling short of expectations by $375 million and dragging the kiwi dollar lower.

New Zealand recorded a merchandise trade surplus of $1.1b in April, the highest monthly surplus ever recorded, figures released by Statistics New Zealand show.