The table shows details of trade between Singapore and New Zealand in 2001, the first year after they signed a free trade agreement. The figures are shown in both Singapore dollars (S$) and New Zealand dollars (NZ$). What conclusions can be drawn from the table?
- ANew Zealand gained more than Singapore from the trade agreement.
- BNew Zealand’s trade position with Singapore improved in 2001.
- CSingapore had a trade surplus with New Zealand in 2001.
- DThe exchange rate in 2001 was approximately NZ$ 1 = S$ 1.2.