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

 


Further fall in terms of trade

Further fall in terms of trade – Media release

The merchandise terms of trade fell 1.3 percent in the December 2012 quarter, due to export prices falling more than import prices, Statistics New Zealand said today.

This means that in the December 2012 quarter, 1.3 percent less merchandise imports could be funded by a fixed quantity of merchandise exports than in the September 2012 quarter.

"The terms of trade have fallen 11 percent from their peak in the June 2011 quarter and are now at their lowest level for three years," prices manager Chris Pike said.

In the December 2012 quarter, export prices fell 1.9 percent, reflecting lower prices for dairy and for fish and fish preparations. Dairy prices have fallen for six consecutive quarters by a total of 27 percent, while the trend for dairy volumes has risen 24 percent. The fall in dairy prices from their 2011 peak influenced the downward trend in the terms of trade.

Prices for imported goods fell 0.6 percent in the December 2012 quarter, reflecting falls in capital goods (tangible assets used to produce goods or services), consumption goods, and intermediate goods (goods used up or transformed when producing other goods). Excluding petroleum and petroleum product prices, total imports fell 1.5 percent.

Seasonally adjusted export volumes fell 0.5 percent. The trend for export volumes remains at a high level. Dairy and fruit were the main contributors to the overall fall in export volumes.

Seasonally adjusted import volumes fell 2.2 percent, reflecting lower volumes for motor spirit, consumption goods, and intermediate goods. The volume of imported capital goods partly offset this fall.

Excluding petroleum and petroleum products, seasonally adjusted import volumes fell 0.9 percent.

The price and volume indexes for exports and imports of goods are compiled mainly from overseas trade data.

ENDS


For more information about these statistics:
• Visit Overseas Trade Indexes (Volumes): December 2012 quarter (provisional)

• Open the attached files

http://img.scoop.co.nz/media/pdfs/1303/OverseasTradeIndexesVolumesDec12qtr.pdf


http://img.scoop.co.nz/media/pdfs/1303/otivtablesdec12qtr.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news