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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news