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

 

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news