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

 


Terms of trade rise: Overseas Trade Indexes (Volumes)

Terms of trade continues to rise

3 June 2014

In the March 2014 quarter, the merchandise terms of trade rose 1.8 percent, Statistics New Zealand said today. The latest increase was due to export prices rising and import prices falling.

Terms of trade is a measure of the purchasing power of New Zealand’s exports abroad. An increase means New Zealand can buy more imports for the same amount of exports.

“Five consecutive quarterly rises have lifted the terms of trade to its highest level since the September 1973 quarter,” prices manager Chris Pike said. The terms of trade is now 1.7 percent below its all-time high in the June 1973 quarter.

In the March 2014 quarter, the price of exported goods rose 0.8 percent, and seasonally adjusted export volumes rose 1.6 percent. The trend for export volumes has reached a new high, and is 4.2 percent higher than the previous high point in the December 2012 quarter.

Dairy prices (up 2.3 percent) were the top contributor to total export prices. Seasonally adjusted dairy volumes fell 4.3 percent, following a 24 percent rise in the previous quarter.

Meat prices rose 2.1 percent and meat volumes rose 6.6 percent, leading the rise in export values. The trend for meat volumes has reached a new high – it is now 5.3 percent higher than the previous high point in the September 2006 quarter.

Prices for imported goods fell 1.0 percent in the March 2014 quarter, following a 2.7 percent fall in the previous quarter. Petroleum and petroleum products (down 3.5 percent) contributed the most to the overall decrease in import prices due to lower prices for crude oil.

Import volumes rose 2.3 percent, following a flat December 2013 quarter. The trend for import volumes has been rising for six consecutive quarters – by a total of 14 percent.

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

For more information about these statistics: Visit Overseas Trade Indexes (Volumes): March 2014 quarter (provisional)

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

The Nation: Call For Cross-Party Auckland Housing Plan

Penny Hulse calls for cross-party accord on Auckland housing because “it’s too important to score political points on”. More>>

ALSO:

Flu Season: Overcoming Vaccination Reluctance

While research shows that 40% of New Zealand businesses offer free or subsidised flu vaccinations to employees this time of year, HR professionals say persuading staff to participate is the biggest challenge. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news