Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Merchandise Prices Fall While Volumes Rise

Merchandise Prices Fall While Volumes Rise

Lower prices caused the decreases in seasonally adjusted export and import values in the December 2002 quarter, according to the latest Overseas Trade Indexes released by Statistics New Zealand. Both seasonally adjusted export and import volumes increased in the December 2002 quarter.

The merchandise terms of trade fell 2.8 percent in the December 2002 quarter, due to export prices falling more than import prices, following a decrease of 1.8 percent in the September 2002 quarter. A fall in the terms of trade means that less imports can be funded by a fixed quantity of exports.

Prices for merchandise exports decreased 5.3 percent in the December 2002 quarter and import prices fell 2.6 percent. The fall in export prices reflects a 4.8 percent rise in the value of the New Zealand dollar in the December 2002 quarter as measured by the trade weighted index (TWI).

Lagged exchange rates set by the New Zealand Customs Service are used in the import values. A TWI calculated from the Customs rates would have risen 2.8 percent in the December 2002 quarter and is reflected in the smaller fall in import prices.

Price decreases for dairy products (down 4.8 percent), meat (down 6.4 percent) and chemical and chemical products (down 7.6 percent) were the main contributors to the fall in export prices in the December 2002 quarter. Price falls were recorded in most of the import series, with lower prices for electrical machinery and apparatus (down 6.1 percent) and mechanical machinery (down 3.6 percent) having the greatest impact.

Seasonally adjusted merchandise export volumes rose 2.2 percent in the December 2002 quarter following little change in the September 2002 quarter. While all of the main sub-indexes rose this quarter, the main contributors were dairy products, non-food manufactures, wool and meat.

Seasonally adjusted merchandise import volumes rose 2.9 percent in the December 2002 quarter, following a 2.6 percent rise in the September 2002 quarter. Merchandise import volumes have shown sustained growth in the latest five quarters. The importation of several large aircraft with a total value over $200 million was the main contributor to the latest rise. Rises were recorded in both the capital goods (up 23.6 percent) and intermediate goods (up 1.3 percent) volume indexes this quarter. Partly offsetting these was a 2.4 percent fall in consumption goods volumes.

The terms of trade for services rose 4.1 percent in the December 2002 quarter recording the fifth consecutive increase. This was due to export prices rising 1.1 percent and import prices falling 2.9 percent in the latest quarter.

Brian Pink

Government Statistician

© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


  • Bill Bennett on Tech