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

 

Weaker New Zealand Dollar Pushes Prices Higher

11 September 2006

Weaker New Zealand Dollar Pushes Prices Higher

The depreciation of the New Zealand dollar against our trading partners' currencies was the major driver of price increases for merchandise trade, Statistics New Zealand said today. Merchandise export prices and merchandise import prices both rose in the June 2006 quarter. As a result, the terms of trade recorded a 0.7 percent increase in the quarter. Seasonally adjusted merchandise export volumes rose while import volumes fell.

The merchandise export price index rose 8.0 percent in the June 2006 quarter, its largest increase since the September 2000 quarter, when the index rose 10.6 percent. The most significant contributor to the rise was the food and beverages index (up 7.1 percent), which was driven by higher meat prices (up 7.7 percent).

Seasonally adjusted merchandise export volumes rose 1.5 percent, with dairy products (up 21.1 percent) the main contributor. The dairy products index is at its highest, following a record season for dairy production.

The merchandise import price index rose 7.2 percent in the June 2006 quarter, the largest quarterly rise since the December 2000 quarter, when the index rose 7.8 percent. Increases in the petroleum and petroleum products index (up 20.2 percent) made the largest contribution to the overall rise, due to high crude oil prices (up 15.2 percent).

Seasonally adjusted merchandise import volumes fell 3.0 percent during the June 2006 quarter. The primary fuels and lubricants sub-index was the main contributor to the fall (down 22.6 percent), with crude oil the most significant commodity to fall this quarter.

Brian Pink

Government Statistician

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

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>>

ALSO:

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>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: