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

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news